Insider Buying: Civista Bancshares, Inc. (NASDAQ:CIVB) Director Buys 750 Shares of Stock

Civista Bancshares, Inc. (NASDAQ:CIVB) Director Darci L. Congrove purchased 750 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $20.81 per share, for a total transaction of $15,607.50. Following the completion of the purchase, the director now directly owns 2,625 shares in the company, valued at $54,626.25. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Civista Bancshares Trading Up 3.4 %

NASDAQ CIVB opened at $22.74 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $357.93 million, a PE ratio of 11.31 and a beta of 0.78. Civista Bancshares, Inc. has a one year low of $13.60 and a one year high of $23.48. The firm’s fifty day moving average is $18.18 and its two-hundred day moving average is $16.36.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. The company had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.46%. During the same period in the previous year, the business posted $0.66 earnings per share. Analysts expect that Civista Bancshares, Inc. will post 1.91 earnings per share for the current year.

Civista Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.81%. Civista Bancshares’s dividend payout ratio (DPR) is 31.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CIVB shares. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $19.00 price target (up from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Piper Sandler lifted their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Stephens lifted 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. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Civista Bancshares by 130.8% during the third quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock worth $1,131,000 after acquiring an additional 35,968 shares during the period. Empowered Funds LLC boosted its holdings in Civista Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock worth $679,000 after buying an additional 3,325 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Civista Bancshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock worth $12,501,000 after buying an additional 8,797 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Civista Bancshares by 30.9% during the second quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock worth $318,000 after buying an additional 4,985 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in Civista Bancshares during the third quarter worth about $926,000. 52.10% of the stock is currently owned by institutional investors and hedge funds.

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.