Civista Bancshares, Inc. (NASDAQ:CIVB) Short Interest Update

Civista Bancshares, Inc. (NASDAQ:CIVB) was the target of a significant growth in short interest in 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. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 51,100 shares, the days-to-cover ratio is currently 2.8 days.

Analysts Set New Price Targets

A number of research firms have issued reports on CIVB. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Piper Sandler raised their target price 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. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.25.

Civista Bancshares Stock Down 0.8 %

NASDAQ CIVB traded down $0.14 during trading on Tuesday, reaching $17.68. 15,918 shares of the company’s stock were exchanged, compared to its average volume of 37,937. The company has a 50 day moving average price of $16.96 and a two-hundred day moving average price of $15.57. The stock has a market cap of $278.05 million, a P/E ratio of 7.65 and a beta of 0.80. Civista Bancshares has a 1 year low of $13.60 and a 1 year high of $19.00. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.01 and a current ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results 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 during 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 in the previous year, the business earned $0.64 earnings per share. On average, equities research analysts anticipate that Civista Bancshares will post 1.76 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, August 6th. Civista Bancshares’s dividend payout ratio (DPR) is 27.47%.

Insider Activity

In other Civista Bancshares news, Director Julie A. Mattlin bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $15.60 per share, with a total value of $31,200.00. Following the purchase, the director now directly owns 12,442 shares in the company, valued at $194,095.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.01% of the company’s stock.

Institutional Investors Weigh In On Civista Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new stake in Civista Bancshares in the first quarter valued at approximately $63,000. Gendell Jeffrey L purchased a new stake in Civista Bancshares in the 4th quarter valued at $184,000. Princeton Capital Management LLC acquired a new stake in Civista Bancshares during the 2nd quarter worth $189,000. Allspring Global Investments Holdings LLC grew its position in 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 purchasing an additional 12,624 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Civista Bancshares in the fourth quarter valued at $274,000. 52.10% of the stock is owned by hedge funds and other institutional investors.

Civista Bancshares Company Profile

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.