Piper Sandler initiated coverage on shares of Civista Bancshares (NASDAQ:CIVB – Free Report) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage issued a neutral rating and a $18.00 price target on the bank’s stock.
Separately, Stephens reduced their price target on shares of Civista Bancshares from $20.00 to $19.00 and set an equal weight rating on the stock in a research note on Friday, February 9th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Civista Bancshares has a consensus rating of Hold and a consensus target price of $20.67.
View Our Latest Report on CIVB
Civista Bancshares Price Performance
Civista Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Tuesday, February 13th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Monday, February 12th. Civista Bancshares’s dividend payout ratio (DPR) is 23.36%.
Insider Buying and Selling
In other Civista Bancshares news, SVP Michael D. Mulford bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $15.82 per share, with a total value of $31,640.00. Following the purchase, the senior vice president now directly owns 2,000 shares in the company, valued at $31,640. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.76% of the stock is owned by insiders.
Institutional Investors Weigh In On Civista Bancshares
Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Civista Bancshares by 7.6% during the 2nd quarter. BlackRock Inc. now owns 1,167,078 shares of the bank’s stock worth $20,307,000 after buying an additional 82,776 shares during the period. Vanguard Group Inc. grew its holdings in Civista Bancshares by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 804,009 shares of the bank’s stock worth $14,826,000 after acquiring an additional 12,469 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Civista Bancshares by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 777,851 shares of the bank’s stock worth $14,344,000 after acquiring an additional 23,337 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Civista Bancshares by 8.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 576,602 shares of the bank’s stock worth $13,896,000 after acquiring an additional 46,686 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Civista Bancshares by 1.0% during the 1st quarter. Wellington Management Group LLP now owns 567,121 shares of the bank’s stock worth $9,573,000 after acquiring an additional 5,600 shares in the last quarter. 50.16% of the stock is owned by hedge funds and other 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.
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