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

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.

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

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.