Insider Buying: Civista Bancshares, Inc. (NASDAQ:CIVB) Chairman Purchases $137,848.92 in Stock

Civista Bancshares, Inc. (NASDAQ:CIVB) Chairman Dennis E. Murray, Jr. purchased 6,143 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were purchased at an average price of $22.44 per share, for a total transaction of $137,848.92. Following the purchase, the chairman now owns 19,162 shares of the company’s stock, valued at approximately $429,995.28. This trade represents a 47.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Civista Bancshares Stock Performance

Shares of CIVB opened at $23.00 on Friday. 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 $356.02 million, a PE ratio of 11.39 and a beta of 0.69. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $23.70. The stock has a fifty day moving average price of $19.95 and a 200-day moving average price of $20.76.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. The company had revenue of $40.63 million during the quarter, compared to analysts’ expectations of $40.33 million. Equities research analysts predict that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, April 29th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, April 29th. Civista Bancshares’s dividend payout ratio is presently 29.96%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CIVB. Barclays PLC increased its position in shares of Civista Bancshares by 40.7% in the 3rd quarter. Barclays PLC now owns 51,521 shares of the bank’s stock valued at $917,000 after acquiring an additional 14,909 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Civista Bancshares by 210.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank’s stock worth $3,152,000 after purchasing an additional 101,610 shares during the last quarter. Mendon Capital Advisors Corp lifted its holdings in shares of Civista Bancshares by 12.2% during the fourth quarter. Mendon Capital Advisors Corp now owns 242,450 shares of the bank’s stock worth $5,101,000 after purchasing an additional 26,270 shares during the period. Prudential Financial Inc. boosted its position in Civista Bancshares by 271.7% in the fourth quarter. Prudential Financial Inc. now owns 53,355 shares of the bank’s stock valued at $1,123,000 after buying an additional 39,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Civista Bancshares by 45.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,161 shares of the bank’s stock worth $950,000 after buying an additional 14,066 shares during the period. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CIVB shares. Keefe, Bruyette & Woods boosted their price target on shares of Civista Bancshares from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Piper Sandler upped their target price on Civista Bancshares from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Stephens lifted their price target on Civista Bancshares from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. StockNews.com upgraded Civista Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, DA Davidson set a $27.00 target price on Civista Bancshares in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.20.

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.