Insider Buying: Civista Bancshares, Inc. (NASDAQ:CIVB) CFO Buys 1,000 Shares of Stock

Civista Bancshares, Inc. (NASDAQ:CIVB) CFO Ian Whinnem bought 1,000 shares of Civista Bancshares stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $22.30 per share, with a total value of $22,300.00. Following the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $22,300. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Civista Bancshares Trading Up 2.7 %

CIVB stock opened at $21.33 on Monday. The business’s 50 day moving average is $21.29 and its 200-day moving average is $18.07. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm has a market cap of $335.67 million, a P/E ratio of 10.61 and a beta of 0.81. Civista Bancshares, Inc. has a 1-year low of $13.60 and a 1-year high of $23.69.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. The firm had revenue of $62.43 million during the quarter, compared to analyst estimates of $37.60 million. During the same period in the prior year, the company posted $0.66 earnings per share. Equities analysts anticipate that Civista Bancshares, Inc. will post 1.91 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.64 dividend on an annualized basis and a yield of 3.00%. Civista Bancshares’s dividend payout ratio (DPR) is presently 31.84%.

Analysts Set New Price Targets

Several equities analysts have commented on CIVB shares. Keefe, Bruyette & Woods upped their price target on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Stephens upped their target price on Civista Bancshares from $18.00 to $21.00 and gave the company 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 price target on the stock in a research note 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

Hedge Funds Weigh In On Civista Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Civista Bancshares by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock valued at $1,831,000 after acquiring an additional 4,284 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Civista Bancshares by 10,347.5% during the 2nd 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. Ritholtz Wealth Management increased its holdings 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 purchasing an additional 3,800 shares in the last quarter. Rhumbline Advisers raised its position in Civista Bancshares by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock valued at $375,000 after purchasing an additional 619 shares during the last quarter. Finally, Princeton Capital Management LLC bought a new stake in shares of Civista Bancshares during the second quarter worth $189,000. 52.10% of the stock is currently owned by institutional investors and hedge funds.

About Civista Bancshares

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.