Bank of America Corp DE Purchases 3,173 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Bank of America Corp DE raised its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,206 shares of the bank’s stock after acquiring an additional 3,173 shares during the period. Bank of America Corp DE owned approximately 0.22% of Civista Bancshares worth $720,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in Civista Bancshares by 23.3% during the fourth quarter. Ameriprise Financial Inc. now owns 36,861 shares of the bank’s stock valued at $776,000 after acquiring an additional 6,968 shares during the period. Northern Trust Corp lifted its stake in shares of Civista Bancshares by 6.4% in the fourth quarter. Northern Trust Corp now owns 138,838 shares of the bank’s stock valued at $2,921,000 after buying an additional 8,412 shares during the period. Mendon Capital Advisors Corp lifted its stake in shares of Civista Bancshares by 12.2% in the fourth quarter. Mendon Capital Advisors Corp now owns 242,450 shares of the bank’s stock valued at $5,101,000 after buying an additional 26,270 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Civista Bancshares by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 833,047 shares of the bank’s stock valued at $17,527,000 after buying an additional 23,809 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of Civista Bancshares in the fourth quarter valued at about $202,000. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Stock Down 1.6%

Shares of CIVB opened at $21.99 on Tuesday. Civista Bancshares, Inc. has a 52 week low of $13.60 and a 52 week high of $24.00. The firm has a market cap of $341.26 million, a P/E ratio of 10.89 and a beta of 0.69. The firm’s 50-day simple moving average is $21.47 and its 200 day simple moving average is $21.13. 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 (NASDAQ:CIVB) last issued its earnings results on Thursday, April 24th. The bank reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. The firm had revenue of $40.63 million for the quarter, compared to the consensus estimate of $40.33 million. On average, analysts forecast that Civista Bancshares, Inc. will post 2.28 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, April 29th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Tuesday, April 29th. Civista Bancshares’s dividend payout ratio is presently 29.96%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CIVB shares. Keefe, Bruyette & Woods increased their target price on shares of Civista Bancshares from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Wall Street Zen cut shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Stephens increased their target price on shares of Civista Bancshares from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Finally, Piper Sandler increased their target price on shares of Civista Bancshares from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.20.

Insider Buying and Selling

In other news, Chairman Dennis E. Murray, Jr. bought 6,143 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average price of $22.44 per share, with a total value of $137,848.92. Following the completion of the purchase, the chairman now directly owns 19,162 shares of the company’s stock, valued at approximately $429,995.28. This represents a 47.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.60% of the stock is owned by insiders.

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.