Nathan E. Weaks Acquires 1,000 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) Stock

Key Points

• Director Nathan E. Weaks of Civista Bancshares acquired 1,000 shares of the company's stock at an average price of $19.35 per share, increasing his total ownership to 9,283 shares.
• Civista Bancshares reported $0.66 earnings per share for the last quarter, missing expectations and achieving revenue of $41.40 million compared to estimates of $43.07 million.
• The company announced a quarterly dividend of $0.17, reflecting an annualized dividend yield of 3.48%, with a payout ratio of 26.88%.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) Director Nathan E. Weaks acquired 1,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $19.35 per share, for a total transaction of $19,350.00. Following the completion of the transaction, the director owned 9,283 shares in the company, valued at $179,626.05. The trade was a 12.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Civista Bancshares Price Performance

Shares of CIVB traded down $0.22 during mid-day trading on Thursday, hitting $19.51. The company's stock had a trading volume of 82,942 shares, compared to its average volume of 54,909. The firm has a 50-day moving average price of $22.36 and a 200 day moving average price of $21.32. The stock has a market capitalization of $302.84 million, a price-to-earnings ratio of 7.71 and a beta of 0.69. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.97. Civista Bancshares, Inc. has a fifty-two week low of $14.90 and a fifty-two week high of $25.59.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The business had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.07 million. Civista Bancshares had a return on equity of 9.83% and a net margin of 15.83%. On average, research analysts predict that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.68 annualized dividend and a dividend yield of 3.48%. Civista Bancshares's dividend payout ratio is currently 26.88%.

Wall Street Analysts Forecast Growth

CIVB has been the topic of several recent research reports. DA Davidson set a $26.00 price objective on shares of Civista Bancshares and gave the company a "buy" rating in a research report on Monday, July 14th. Wall Street Zen cut shares of Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Piper Sandler raised their target price on shares of Civista Bancshares from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Stephens lowered their target price on shares of Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.80.

Hedge Funds Weigh In On Civista Bancshares

Several hedge funds have recently made changes to their positions in CIVB. CWM LLC grew its stake in shares of Civista Bancshares by 43.7% in the 1st quarter. CWM LLC now owns 3,084 shares of the bank's stock worth $60,000 after purchasing an additional 938 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Civista Bancshares by 4,003.0% in the first quarter. GAMMA Investing LLC now owns 4,103 shares of the bank's stock worth $80,000 after acquiring an additional 4,003 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Civista Bancshares by 103.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 5,120 shares of the bank's stock worth $108,000 after acquiring an additional 2,609 shares in the last quarter. Deutsche Bank AG increased its position in shares of Civista Bancshares by 77.0% in the fourth quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock worth $162,000 after acquiring an additional 3,347 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Civista Bancshares by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank's stock worth $189,000 after acquiring an additional 1,960 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company's stock.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.

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