Civista Bancshares, Inc. (NASDAQ:CIVB) Director Buys $19,350.00 in 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 bought 1,000 shares of the company's stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost 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 approximately $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 SEC, which is available at this hyperlink.

Civista Bancshares Price Performance

Shares of CIVB stock traded up $0.01 during trading on Monday, hitting $19.36. The company had a trading volume of 8,188 shares, compared to its average volume of 55,798. The stock's 50-day moving average price is $22.25 and its 200 day moving average price is $21.33. The firm has a market capitalization of $300.39 million, a P/E ratio of 7.65 and a beta of 0.73. Civista Bancshares, Inc. has a one year low of $14.90 and a one year high of $25.59. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.97 and a current ratio of 0.97.

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

Civista Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, August 5th. Civista Bancshares's dividend payout ratio (DPR) is presently 26.88%.

Analysts Set New Price Targets

Several research firms recently weighed in on CIVB. Stephens cut their price objective on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 29th. Piper Sandler upped their price objective on Civista Bancshares from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. DA Davidson set a $26.00 price objective on Civista Bancshares and gave the company a "buy" rating in a research note on Monday, July 14th. Wall Street Zen lowered Civista Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Finally, Keefe, Bruyette & Woods increased their price objective on Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Civista Bancshares currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.80.

Hedge Funds Weigh In On Civista Bancshares

Large investors have recently made changes to their positions in the stock. CWM LLC raised its position in shares of Civista Bancshares by 43.7% in the first quarter. CWM LLC now owns 3,084 shares of the bank's stock worth $60,000 after buying an additional 938 shares in the last quarter. GAMMA Investing LLC grew its stake 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 purchasing an additional 4,003 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake 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 purchasing an additional 2,609 shares during the last quarter. Deutsche Bank AG grew its stake 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 purchasing an additional 3,347 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake 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 purchasing an additional 1,960 shares during the last quarter. 52.10% of the stock is owned by institutional investors.

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.