Inspire Investing LLC Buys New Shares in Civista Bancshares, Inc. (NASDAQ:CIVB)

Inspire Investing LLC acquired a new position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 51,974 shares of the bank's stock, valued at approximately $926,000. Inspire Investing LLC owned about 0.33% of Civista Bancshares at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC bought a new position in Civista Bancshares during the second quarter worth about $323,000. Quadrature Capital Ltd acquired a new position in shares of Civista Bancshares during the 4th quarter worth approximately $274,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank's stock worth $197,000 after acquiring an additional 12,624 shares during the last quarter. Princeton Capital Management LLC bought a new stake in Civista Bancshares in the 2nd quarter valued at $189,000. Finally, BNP Paribas Financial Markets lifted its holdings in Civista Bancshares by 53.3% during the 1st quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank's stock valued at $440,000 after purchasing an additional 9,953 shares during the last quarter. 52.10% of the stock is owned by institutional investors.

Civista Bancshares Stock Performance

Shares of CIVB traded up $0.23 during midday trading on Monday, reaching $17.98. 58,542 shares of the stock were exchanged, compared to its average volume of 38,368. The stock's 50 day simple moving average is $16.91 and its 200 day simple moving average is $15.74. The company has a market cap of $282.77 million, a P/E ratio of 7.62 and a beta of 0.80. 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 - Get Free Report) last issued 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 business had revenue of $61.14 million during the quarter, compared to analysts' expectations of $36.57 million. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.24%. During the same quarter in the previous year, the company earned $0.64 EPS. On average, sell-side analysts expect that Civista Bancshares, Inc. will post 1.76 earnings per share for the current year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.56%. Civista Bancshares's payout ratio is 27.47%.

Insider Transactions at Civista Bancshares

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 acquired 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 of the company's stock, valued at approximately $194,095.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $19.00 price objective (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Piper Sandler increased their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.25.

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.