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Civista Bancshares, Inc. (NASDAQ:CIVB) Short Interest Up 9.8% in September

Civista Bancshares logo with Finance background

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 141,600 shares, a growth of 9.8% from the August 31st total of 129,000 shares. Based on an average daily trading volume, of 51,100 shares, the days-to-cover ratio is presently 2.8 days. Approximately 0.9% of the company's shares are short sold.

Civista Bancshares Stock Performance

CIVB traded down $0.31 during trading hours on Tuesday, reaching $17.51. The company's stock had a trading volume of 50,036 shares, compared to its average volume of 38,118. Civista Bancshares has a 52 week low of $13.60 and a 52 week high of $19.00. The company's 50-day moving average is $16.96 and its 200-day moving average is $15.57. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $275.38 million, a PE ratio of 7.52 and a beta of 0.80.

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 for the quarter, topping the consensus estimate of $0.40 by $0.05. The firm 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 quarter last year, the business earned $0.64 EPS. On average, equities analysts forecast that Civista Bancshares will post 1.76 EPS for the current year.

Civista Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were given a $0.16 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.64 annualized dividend and a yield of 3.66%. Civista Bancshares's dividend payout ratio is presently 27.47%.

Analyst Upgrades and Downgrades

CIVB has been the subject of a number of recent research reports. Piper Sandler upped their price target on Civista Bancshares from $16.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. 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 report 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, Civista Bancshares has a consensus rating of "Hold" and a consensus price target of $18.25.

View Our Latest Analysis on Civista Bancshares

Insider Transactions at Civista Bancshares

In other Civista Bancshares news, Director Julie A. Mattlin acquired 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $15.60 per share, for a total transaction of $31,200.00. Following the transaction, the director now owns 12,442 shares of the company's stock, valued at $194,095.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.01% of the company's stock.

Hedge Funds Weigh In On Civista Bancshares

Several large investors have recently bought and sold shares of CIVB. EntryPoint Capital LLC bought a new stake in Civista Bancshares in the first quarter worth approximately $63,000. Gendell Jeffrey L acquired a new stake in Civista Bancshares in the fourth quarter valued at approximately $184,000. Princeton Capital Management LLC acquired a new stake in Civista Bancshares in the second quarter valued at approximately $189,000. Allspring Global Investments Holdings LLC grew its stake in Civista Bancshares by 10,347.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank's stock valued at $197,000 after acquiring an additional 12,624 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Civista Bancshares in the fourth quarter valued at approximately $274,000. 52.10% of the stock is currently owned by institutional investors.

About Civista Bancshares

(Get Free Report)

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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