Civista Bancshares, Inc. (NASDAQ:CIVB) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,764 shares of the bank’s stock after selling 623 shares during the period. Private Advisor Group LLC owned approximately 0.10% of Civista Bancshares worth $281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Civista Bancshares by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock worth $12,501,000 after purchasing an additional 8,797 shares during the period. Dimensional Fund Advisors LP increased its position in Civista Bancshares by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock worth $12,316,000 after purchasing an additional 6,234 shares in the last quarter. Summit Financial Strategies Inc. raised its holdings in Civista Bancshares by 3.2% in the second quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank’s stock valued at $2,306,000 after buying an additional 4,559 shares during the period. Bank of New York Mellon Corp lifted its position in 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 buying an additional 4,284 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in 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 buying an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CIVB. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Wednesday, October 30th. Stephens boosted their target price on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Finally, Piper Sandler upped their price objective on shares of Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Civista Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Insider Activity at Civista Bancshares

In other news, Director Julie A. Mattlin bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the transaction, the director now owns 12,442 shares in the company, valued at $194,095.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 3.01% of the stock is owned by corporate insiders.

Civista Bancshares Stock Performance

Civista Bancshares stock opened at $22.55 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.64. The stock has a 50 day moving average of $17.96 and a 200-day moving average of $16.27. The stock has a market cap of $354.87 million, a P/E ratio of 11.22 and a beta of 0.78. Civista Bancshares, Inc. has a 52 week low of $13.60 and a 52 week high of $23.48.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. The firm had revenue of $62.43 million for the quarter, compared to the consensus estimate of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.46%. During the same period in the prior year, the firm posted $0.66 EPS. On average, analysts expect that Civista Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.84%. The ex-dividend date is Tuesday, November 5th. Civista Bancshares’s dividend payout ratio is currently 31.84%.

Civista Bancshares 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.