Nuveen Asset Management LLC Buys 57,950 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Nuveen Asset Management LLC boosted its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 166.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,687 shares of the bank’s stock after purchasing an additional 57,950 shares during the quarter. Nuveen Asset Management LLC owned about 0.59% of Civista Bancshares worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CIVB. SG Americas Securities LLC raised its position in Civista Bancshares by 15.6% during the fourth quarter. SG Americas Securities LLC now owns 6,624 shares of the bank’s stock valued at $139,000 after acquiring an additional 892 shares in the last quarter. Deutsche Bank AG boosted its stake in Civista Bancshares by 77.0% during the fourth quarter. Deutsche Bank AG now owns 7,691 shares of the bank’s stock worth $162,000 after buying an additional 3,347 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Civista Bancshares by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank’s stock worth $189,000 after buying an additional 1,960 shares during the last quarter. First Trust Advisors LP acquired a new position in Civista Bancshares during the fourth quarter worth $202,000. Finally, D. E. Shaw & Co. Inc. raised its position in Civista Bancshares by 12.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 11,773 shares of the bank’s stock valued at $248,000 after purchasing an additional 1,337 shares during the period. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Civista Bancshares

In related news, Chairman Dennis E. Murray, Jr. bought 6,143 shares of the stock in a transaction on Tuesday, April 29th. The shares were purchased at an average price of $22.44 per share, for a total transaction of $137,848.92. Following the acquisition, the chairman now owns 19,162 shares in the company, valued at $429,995.28. This represents a 47.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Civista Bancshares Trading Up 0.4%

NASDAQ:CIVB opened at $21.93 on Wednesday. The stock has a market cap of $340.33 million, a P/E ratio of 10.86 and a beta of 0.69. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year high of $24.00. The stock has a 50-day simple moving average of $21.28 and a 200-day simple moving average of $21.15.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Thursday, April 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. The firm had revenue of $40.63 million during the quarter, compared to analysts’ expectations of $40.33 million. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. As a group, analysts anticipate that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, April 29th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Tuesday, April 29th. Civista Bancshares’s payout ratio is currently 29.96%.

Analyst Ratings Changes

A number of equities research analysts have commented on CIVB shares. Keefe, Bruyette & Woods lifted their target price on Civista Bancshares from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Wall Street Zen downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Piper Sandler boosted their price objective on Civista Bancshares from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Finally, Stephens upped their price target on Civista Bancshares from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.20.

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.