Civista Bancshares, Inc. (NASDAQ:CIVB) announced its earnings results on Friday, July 28th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.04, Bloomberg Earnings reports. Civista Bancshares had a net margin of 21.97% and a return on equity of 11.83%. The company had revenue of $17.47 million for the quarter, compared to the consensus estimate of $17.70 million.
Shares of Civista Bancshares (NASDAQ:CIVB) traded up 1.55% during mid-day trading on Tuesday, reaching $20.37. 116,636 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $20.67 and its 200-day moving average price is $21.33. Civista Bancshares has a one year low of $13.51 and a one year high of $23.75. The company has a market capitalization of $207.14 million, a PE ratio of 15.12 and a beta of 0.47.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, July 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.18%. Civista Bancshares’s dividend payout ratio is currently 17.65%.
In related news, Director David A. Voight sold 5,884 shares of Civista Bancshares stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $20.78, for a total transaction of $122,269.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis E. Murray, Jr. acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $21.38 per share, with a total value of $42,760.00. Following the transaction, the director now owns 14,023 shares in the company, valued at approximately $299,811.74. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 4,050 shares of company stock valued at $82,998. 4.79% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust boosted its stake in Civista Bancshares by 136.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 121,319 shares of the bank’s stock worth $2,688,000 after buying an additional 70,000 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Civista Bancshares by 104.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,923 shares of the bank’s stock worth $309,000 after buying an additional 7,127 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Civista Bancshares during the first quarter worth about $6,596,000. Segantii Capital Management Ltd raised its stake in shares of Civista Bancshares by 733.1% in the first quarter. Segantii Capital Management Ltd now owns 11,664 shares of the bank’s stock worth $258,000 after buying an additional 10,264 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Civista Bancshares by 3.2% in the first quarter. LSV Asset Management now owns 55,500 shares of the bank’s stock worth $1,229,000 after buying an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 34.93% of the company’s stock.
CIVB has been the topic of several research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $24.00 price objective on shares of Civista Bancshares in a research note on Sunday, July 30th. Boenning Scattergood set a $24.00 price objective on shares of Civista Bancshares and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised shares of Civista Bancshares from a “sell” rating to a “hold” rating and set a $25.00 price objective on the stock in a research note on Tuesday, May 2nd. Finally, DA Davidson reissued a “neutral” rating and set a $24.50 price objective on shares of Civista Bancshares in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Civista Bancshares presently has a consensus rating of “Hold” and a consensus target price of $22.65.
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About Civista Bancshares
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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