Bank of New York Mellon Corp boosted its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB – Free Report) by 3.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 118,232 shares of the bank’s stock after buying an additional 4,284 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.75% of Civista Bancshares worth $1,831,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of Civista Bancshares by 11.3% during the first quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank’s stock valued at $370,000 after acquiring an additional 2,453 shares in the last quarter. Empowered Funds LLC raised its holdings in Civista Bancshares by 8.1% in the first quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock worth $679,000 after purchasing an additional 3,325 shares in the last quarter. Quadrature Capital Ltd lifted its position in Civista Bancshares by 24.7% during the first quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock valued at $283,000 after buying an additional 3,672 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Civista Bancshares during the 1st quarter valued at $63,000. Finally, Victory Capital Management Inc. increased its stake in shares of Civista Bancshares by 9.7% during the fourth quarter. Victory Capital Management Inc. now owns 47,700 shares of the bank’s stock valued at $880,000 after purchasing an additional 4,212 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.
Insider Activity at Civista Bancshares
In other news, Director Julie A. Mattlin bought 2,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $15.60 per share, for a total transaction of $31,200.00. Following the completion of the purchase, the director now directly owns 12,442 shares in the company, valued at $194,095.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.01% of the stock is currently owned by corporate insiders.
Civista Bancshares Stock Performance
Civista Bancshares (NASDAQ:CIVB – Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $61.14 million during the quarter, compared to analysts’ expectations of $36.57 million. Civista Bancshares had a return on equity of 9.24% and a net margin of 14.48%. During the same quarter in the previous year, the business earned $0.64 EPS. Equities research analysts forecast that Civista Bancshares, Inc. will post 1.76 EPS for the current fiscal year.
Civista Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Tuesday, August 6th. Civista Bancshares’s payout ratio is 27.47%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on CIVB. Piper Sandler increased their target price on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.25.
Read Our Latest Stock Report on CIVB
Civista Bancshares Company Profile
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.
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