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

Civista Bancshares, Inc. (NASDAQ:CIVBGet Rating) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 213,000 shares, a decrease 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 presently 6.6 days. Currently, 1.5% of the company’s shares are short sold.

Civista Bancshares Stock Down 2.2 %

Shares of NASDAQ:CIVB opened at $20.65 on Monday. Civista Bancshares has a 52-week low of $20.10 and a 52-week high of $25.94. The firm has a market capitalization of $318.40 million, a P/E ratio of 8.36 and a beta of 0.83. The stock has a 50 day moving average price of $21.66 and a 200-day moving average price of $22.02. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91.

Civista Bancshares (NASDAQ:CIVBGet Rating) last announced its earnings results on Thursday, July 28th. The bank reported $0.53 earnings per share (EPS) 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 firm had revenue of $29.90 million during the quarter, compared to analyst estimates of $30.90 million. During the same quarter in the prior year, the company earned $0.59 EPS. As a group, equities research analysts anticipate that Civista Bancshares will post 2.42 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CIVB. Stephens increased their target price on Civista Bancshares to $27.00 in a report on Tuesday, August 23rd. DA Davidson reiterated a “buy” rating on shares of Civista Bancshares in a report on Wednesday, July 27th. StockNews.com upgraded Civista Bancshares from a “hold” rating to a “buy” rating in a report on Wednesday, September 7th. Finally, Hovde Group cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $25.00 price objective for the company. in a report on Friday, July 29th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIVB. Dimensional Fund Advisors LP increased its position in Civista Bancshares by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 574,238 shares of the bank’s stock valued at $14,011,000 after buying an additional 7,691 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Civista Bancshares by 61.4% during the 4th quarter. BNP Paribas Arbitrage SA now owns 6,386 shares of the bank’s stock valued at $156,000 after buying an additional 2,429 shares in the last quarter. Acadian Asset Management LLC increased its position in Civista Bancshares by 97.6% during the 4th quarter. Acadian Asset Management LLC now owns 15,030 shares of the bank’s stock valued at $365,000 after buying an additional 7,425 shares in the last quarter. PEAK6 Investments LLC bought a new position in Civista Bancshares during the 4th quarter valued at approximately $652,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Civista Bancshares during the 1st quarter valued at $406,000. Institutional investors own 52.59% of the company’s stock.

About Civista Bancshares

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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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