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

Civista Bancshares, Inc. (NASDAQ:CIVB) Director Darci L. Congrove purchased 750 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average cost of $20.81 per share, with a total value of $15,607.50. Following the purchase, the director now owns 2,625 shares in the company, valued at approximately $54,626.25. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Civista Bancshares Stock Up 3.4 %

Civista Bancshares stock opened at $22.74 on Friday. Civista Bancshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $23.48. 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 50 day moving average price of $18.18 and a 200 day moving average price of $16.36. The company has a market capitalization of $357.93 million, a PE ratio of 11.31 and a beta of 0.78.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.46%. The firm had revenue of $62.43 million during the quarter, compared to the consensus estimate of $37.60 million. During the same quarter last year, the firm earned $0.66 EPS. Research analysts expect that Civista Bancshares, Inc. will post 1.91 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be given a $0.16 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.64 annualized dividend and a yield of 2.81%. Civista Bancshares’s dividend payout ratio is presently 31.84%.

Analyst Upgrades and Downgrades

CIVB has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Wednesday, October 30th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Finally, 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 report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Civista Bancshares presently has an average rating of “Moderate Buy” and an average price target of $20.25.

Hedge Funds Weigh In On Civista Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC boosted its position in Civista Bancshares by 4.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock valued at $248,000 after buying an additional 589 shares during the period. Rhumbline Advisers lifted its position in shares of Civista Bancshares by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after purchasing an additional 619 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Civista Bancshares by 11.3% during the 1st quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank’s stock worth $370,000 after purchasing an additional 2,453 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Civista Bancshares by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 50,135 shares of the bank’s stock worth $893,000 after purchasing an additional 2,546 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Civista Bancshares by 5.4% during the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock worth $800,000 after purchasing an additional 2,650 shares during the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

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.