Rhumbline Advisers Buys 619 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Rhumbline Advisers raised its stake in Civista Bancshares, Inc. (NASDAQ:CIVB) by 2.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 24,199 shares of the bank’s stock after purchasing an additional 619 shares during the quarter. Rhumbline Advisers owned 0.15% of Civista Bancshares worth $375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Civista Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock valued at $12,501,000 after purchasing an additional 8,797 shares during the last quarter. Wellington Management Group LLP lifted its position in Civista Bancshares by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock valued at $11,164,000 after purchasing an additional 5,400 shares during the last quarter. Summit Financial Strategies Inc. raised its holdings in shares of Civista Bancshares by 3.2% during the second quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank’s stock valued at $2,306,000 after acquiring an additional 4,559 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Civista Bancshares by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock valued at $1,831,000 after acquiring an additional 4,284 shares in the last quarter. Finally, Ritholtz Wealth Management raised its holdings in shares of Civista Bancshares by 4.3% during the second quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock valued at $1,416,000 after acquiring an additional 3,800 shares in the last quarter. Institutional investors own 52.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Julie A. Mattlin purchased 2,000 shares of Civista Bancshares stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $15.60 per share, with a total value 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $19.00 target price (up previously from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Piper Sandler upped their target price on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.25.

Civista Bancshares Price Performance

Shares of CIVB stock opened at $17.68 on Friday. The stock has a market cap of $278.05 million, a price-to-earnings ratio of 7.59 and a beta of 0.80. The business’s fifty day moving average is $16.97 and its 200 day moving average is $15.50. Civista Bancshares, Inc. has a twelve month low of $13.60 and a twelve month high of $19.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.64.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Monday, July 29th. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $61.14 million for 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 period in the prior year, the firm earned $0.64 earnings per share. Research analysts expect that Civista Bancshares, Inc. will post 1.76 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were paid a $0.16 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.64 annualized dividend and a yield of 3.62%. Civista Bancshares’s payout ratio is 27.47%.

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.