Civista Bancshares, Inc. (NASDAQ:CIVB) Sees Large Decline in Short Interest

Civista Bancshares, Inc. (NASDAQ:CIVB) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 120,500 shares, a decrease of 5.2% from the June 30th total of 127,100 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 41,500 shares, the short-interest ratio is presently 2.9 days.

Civista Bancshares Trading Down 6.0 %

NASDAQ:CIVB opened at $16.88 on Friday. The firm has a market capitalization of $265.47 million, a P/E ratio of 7.24 and a beta of 0.82. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average of $15.38 and a 200 day moving average of $15.34. Civista Bancshares has a 52 week low of $13.60 and a 52 week high of $19.00.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Monday, July 29th. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. Civista Bancshares had a return on equity of 9.34% and a net margin of 14.48%. The firm had revenue of $61.14 million for the quarter, compared to analyst estimates of $36.57 million. During the same period last year, the company earned $0.64 EPS. On average, research analysts predict that Civista Bancshares will post 1.78 earnings per share for the current year.

Civista Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.64 annualized dividend and a yield of 3.79%. Civista Bancshares’s dividend payout ratio (DPR) is presently 27.47%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CIVB. Princeton Capital Management LLC bought a new position in Civista Bancshares in the second quarter worth $189,000. Rhumbline Advisers increased its stake in shares of Civista Bancshares by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after acquiring an additional 619 shares in the last quarter. Ritholtz Wealth Management lifted its position in Civista Bancshares by 4.3% during the 2nd quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock valued at $1,416,000 after acquiring an additional 3,800 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Civista Bancshares by 10,347.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock valued at $197,000 after purchasing an additional 12,624 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Civista Bancshares by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock worth $1,831,000 after purchasing an additional 4,284 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Piper Sandler increased their target price on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.25.

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.