Civista Bancshares, Inc. (NASDAQ:CIVB) Short Interest Update

Civista Bancshares, Inc. (NASDAQ:CIVB) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 495,011 shares, a growth of 81.2% from the June 15th total of 273,182 shares. Based on an average trading volume of 214,021 shares, the short-interest ratio is presently 2.3 days. Approximately 2.4% of the shares of the stock are short sold.

Civista Bancshares Price Performance

Shares of Civista Bancshares stock opened at $28.51 on Friday. Civista Bancshares has a 52-week low of $18.94 and a 52-week high of $29.38. The stock has a market capitalization of $592.44 million, a price-to-earnings ratio of 10.48 and a beta of 0.67. The company has a fifty day moving average of $26.69 and a 200-day moving average of $24.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. The company had revenue of $47.25 million for the quarter, compared to analyst estimates of $45.64 million. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. Equities research analysts expect that Civista Bancshares will post 2.82 EPS for the current year.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio (DPR) is 26.47%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its stake in shares of Civista Bancshares by 1,102.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,838 shares of the bank’s stock valued at $361,000 after acquiring an additional 14,521 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Civista Bancshares during the 1st quarter worth approximately $556,000. Empowered Funds LLC grew its position in Civista Bancshares by 6.0% during the 1st quarter. Empowered Funds LLC now owns 82,659 shares of the bank’s stock worth $1,884,000 after acquiring an additional 4,667 shares during the last quarter. Quantinno Capital Management LP grew its position in Civista Bancshares by 10.8% during the 1st quarter. Quantinno Capital Management LP now owns 41,371 shares of the bank’s stock worth $943,000 after acquiring an additional 4,044 shares during the last quarter. Finally, Mendon Capital Advisors Corp increased its stake in Civista Bancshares by 38.3% in the 1st quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock worth $7,104,000 after purchasing an additional 86,390 shares during the period. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CIVB shares. Piper Sandler raised their price target on Civista Bancshares from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a report on Wednesday, July 8th. Wall Street Zen lowered Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Zacks Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Civista Bancshares presently has an average rating of “Hold” and an average target price of $27.20.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.