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

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

Civista Bancshares Stock Up 2.7 %

NASDAQ:CIVB opened at $21.33 on Friday. The firm has a market capitalization of $335.67 million, a price-to-earnings ratio of 10.61 and a beta of 0.81. Civista Bancshares, Inc. has a twelve month low of $13.60 and a twelve month high of $23.69. The stock’s 50 day moving average price is $21.29 and its two-hundred day moving average price is $18.04. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity 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 8.33% and a net margin of 13.12%. During the same quarter in the prior year, the firm posted $0.66 EPS. Equities research analysts expect that Civista Bancshares, Inc. will post 1.91 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

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

Institutional Investors Weigh In On Civista Bancshares

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in 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 purchasing an additional 35,968 shares during the period. Hsbc Holdings PLC lifted its position in shares of Civista Bancshares by 30.9% in the second quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock valued at $318,000 after buying an additional 4,985 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Civista Bancshares in the third quarter valued at approximately $926,000. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 4,284 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Civista Bancshares by 4.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock worth $248,000 after acquiring an additional 589 shares during the last quarter. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CIVB. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Wednesday, October 30th. Stephens boosted their price objective on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Civista Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

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.