Darci L. Congrove Buys 750 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) Stock

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) Director Darci L. Congrove acquired 750 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $20.81 per share, for a total transaction of $15,607.50. Following the acquisition, the director now owns 2,625 shares of the company's stock, valued at approximately $54,626.25. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Civista Bancshares Trading Down 2.5 %

Shares of CIVB traded down $0.56 during trading hours on Thursday, reaching $21.99. 115,410 shares of the company traded hands, compared to its average volume of 40,462. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $23.48. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.64. The company's fifty day moving average price is $18.06 and its two-hundred day moving average price is $16.31. The company has a market capitalization of $346.12 million, a price-to-earnings ratio of 10.94 and a beta of 0.78.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.46% and a net margin of 13.12%. The business had revenue of $62.43 million for the quarter, compared to analysts' expectations of $37.60 million. During the same period in the previous year, the firm posted $0.66 EPS. Equities research analysts predict that Civista Bancshares, Inc. will post 1.91 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.64 annualized dividend and a yield of 2.91%. Civista Bancshares's payout ratio is 31.84%.

Hedge Funds Weigh In On Civista Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake in shares of Civista Bancshares by 4.4% during the third quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank's stock valued at $248,000 after purchasing an additional 589 shares in the last quarter. Rhumbline Advisers increased its position in Civista Bancshares by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank's stock valued at $375,000 after buying an additional 619 shares in the last quarter. Russell Investments Group Ltd. raised its stake in 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 buying an additional 2,453 shares during the last quarter. Empowered Funds LLC boosted its holdings in Civista Bancshares by 5.3% in the third quarter. Empowered Funds LLC now owns 50,135 shares of the bank's stock worth $893,000 after acquiring an additional 2,546 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Civista Bancshares by 5.4% in the second quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank's stock worth $800,000 after acquiring an additional 2,650 shares during the last quarter. Institutional investors own 52.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CIVB. Hovde Group upgraded shares of Civista Bancshares from a "market perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Wednesday, October 30th. Piper Sandler boosted 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. Stephens increased their target price on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.25.

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.