Darci L. Congrove Acquires 750 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) Stock

Civista Bancshares, Inc. (NASDAQ:CIVB) Director Darci L. Congrove acquired 750 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of $20.81 per share, for a total transaction of $15,607.50. Following the completion of the transaction, the director now directly owns 2,625 shares in the company, valued at $54,626.25. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Civista Bancshares Stock Down 0.7 %

CIVB traded down $0.15 on Thursday, hitting $22.40. 25,756 shares of the company were exchanged, compared to its average volume of 39,976. The company has a market cap of $352.58 million, a PE ratio of 11.22 and a beta of 0.78. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $23.48. The stock’s fifty day moving average is $17.96 and its 200-day moving average is $16.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.01 and a current ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.44 by $0.09. The company had revenue of $62.43 million during the quarter, compared to the consensus estimate of $37.60 million. Civista Bancshares had a return on equity of 8.46% and a net margin of 13.12%. During the same quarter in the prior year, the firm posted $0.66 EPS. Equities research analysts predict that Civista Bancshares, Inc. will post 1.91 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Tuesday, November 5th. Civista Bancshares’s dividend payout ratio (DPR) is presently 31.84%.

Institutional Investors Weigh In On Civista Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Civista Bancshares by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock valued at $12,501,000 after purchasing an additional 8,797 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Civista Bancshares by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock valued at $12,316,000 after purchasing an additional 6,234 shares during the period. Summit Financial Strategies Inc. lifted its stake in shares of Civista Bancshares by 3.2% during the 2nd quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank’s stock worth $2,306,000 after buying an additional 4,559 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Civista Bancshares by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock worth $1,831,000 after buying an additional 4,284 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in shares of Civista Bancshares by 4.3% during the 2nd quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock worth $1,416,000 after buying an additional 3,800 shares during the period. 52.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CIVB has been the subject of several recent research reports. Piper Sandler upped their price objective on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Stephens raised their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

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.