Civista Bancshares, Inc. (NASDAQ:CIVB) Sees Significant Growth in Short Interest

Civista Bancshares, Inc. (NASDAQ:CIVBGet Free Report) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 138,300 shares, an increase of 11.0% from the February 29th total of 124,600 shares. Based on an average trading volume of 27,700 shares, the short-interest ratio is presently 5.0 days. Approximately 0.9% of the shares of the company are short sold.

Insider Buying and Selling at Civista Bancshares

In related news, SVP Michael D. Mulford bought 2,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average cost of $15.82 per share, for a total transaction of $31,640.00. Following the completion of the purchase, the senior vice president now directly owns 2,000 shares in the company, valued at approximately $31,640. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Civista Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Civista Bancshares by 294.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock worth $38,000 after purchasing an additional 1,830 shares in the last quarter. FMR LLC increased its holdings in shares of Civista Bancshares by 74.1% in the first quarter. FMR LLC now owns 2,277 shares of the bank’s stock valued at $38,000 after buying an additional 969 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Civista Bancshares by 244.3% in the third quarter. Tower Research Capital LLC TRC now owns 2,565 shares of the bank’s stock valued at $54,000 after buying an additional 1,820 shares in the last quarter. Citigroup Inc. bought a new position in shares of Civista Bancshares in the second quarter valued at $83,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Civista Bancshares by 115.6% in the second quarter. Wells Fargo & Company MN now owns 5,888 shares of the bank’s stock valued at $102,000 after buying an additional 3,157 shares in the last quarter. Institutional investors own 52.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CIVB. Hovde Group began coverage on Civista Bancshares in a research note on Monday. They issued a “market perform” rating and a $16.00 target price for the company. Piper Sandler initiated coverage on Civista Bancshares in a report on Wednesday, February 21st. They set a “neutral” rating and a $18.00 price target on the stock. TheStreet cut Civista Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. Finally, Stephens cut their price target on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.50.

View Our Latest Stock Analysis on CIVB

Civista Bancshares Stock Performance

CIVB opened at $14.65 on Wednesday. The business’s 50 day moving average is $15.53 and its 200-day moving average is $16.05. The stock has a market cap of $229.86 million, a PE ratio of 5.35 and a beta of 0.78. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.22. Civista Bancshares has a twelve month low of $14.02 and a twelve month high of $19.80.

Civista Bancshares (NASDAQ:CIVBGet Free Report) last announced its earnings results on Thursday, February 8th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. Civista Bancshares had a return on equity of 12.26% and a net margin of 19.85%. The firm had revenue of $38.88 million for the quarter, compared to analysts’ expectations of $38.40 million. On average, analysts predict that Civista Bancshares will post 2.05 earnings per share for the current year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 13th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.64 annualized dividend and a yield of 4.37%. Civista Bancshares’s payout ratio is 23.36%.

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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