Short Interest in Civista Bancshares, Inc. (NASDAQ:CIVB) Drops By 9.7%

Civista Bancshares, Inc. (NASDAQ:CIVBGet Rating) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 213,000 shares, a drop of 9.7% from the August 15th total of 235,800 shares. Based on an average trading volume of 32,500 shares, the days-to-cover ratio is currently 6.6 days. Approximately 1.5% of the shares of the stock are sold short.

Civista Bancshares Trading Down 2.2 %

Shares of NASDAQ CIVB opened at $20.65 on Monday. The business’s 50 day moving average is $21.66 and its two-hundred day moving average is $22.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. Civista Bancshares has a 1-year low of $20.10 and a 1-year high of $25.94. The stock has a market capitalization of $318.40 million, a P/E ratio of 8.36 and a beta of 0.83.

Civista Bancshares (NASDAQ:CIVBGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. Civista Bancshares had a return on equity of 11.04% and a net margin of 28.80%. The company had revenue of $29.90 million for the quarter, compared to analysts’ expectations of $30.90 million. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, research analysts expect that Civista Bancshares will post 2.42 EPS for the current year.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th were given a dividend of $0.14 per share. The ex-dividend date was Monday, August 8th. This represents a $0.56 annualized dividend and a dividend yield of 2.71%. Civista Bancshares’s dividend payout ratio (DPR) is presently 22.67%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Venture Visionary Partners LLC purchased a new position in shares of Civista Bancshares during the second quarter valued at approximately $35,000. Amalgamated Bank purchased a new stake in shares of Civista Bancshares in the first quarter valued at approximately $43,000. SG Americas Securities LLC purchased a new stake in shares of Civista Bancshares in the second quarter valued at approximately $126,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Civista Bancshares by 78.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,108 shares of the bank’s stock valued at $130,000 after purchasing an additional 2,689 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Civista Bancshares by 58.3% in the first quarter. MetLife Investment Management LLC now owns 8,279 shares of the bank’s stock valued at $200,000 after purchasing an additional 3,049 shares during the period. Hedge funds and other institutional investors own 52.59% of the company’s stock.

Analyst Upgrades and Downgrades

CIVB has been the topic of several research reports. raised Civista Bancshares from a “hold” rating to a “buy” rating in a report on Wednesday, September 7th. DA Davidson reaffirmed a “buy” rating on shares of Civista Bancshares in a report on Wednesday, July 27th. Stephens lifted their target price on Civista Bancshares to $27.00 in a report on Tuesday, August 23rd. Finally, Hovde Group cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $25.00 target price on the stock. in a report on Friday, July 29th.

Civista Bancshares Company Profile

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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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