Civista Bancshares, Inc. (NASDAQ:CIVB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in Civista Bancshares, Inc. (NASDAQ:CIVB) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,292 shares of the bank’s stock after selling 708 shares during the quarter. Victory Capital Management Inc. owned 0.29% of Civista Bancshares worth $885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CIVB. CWM LLC grew its position in Civista Bancshares by 43.7% in the first quarter. CWM LLC now owns 3,084 shares of the bank’s stock worth $60,000 after buying an additional 938 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Civista Bancshares by 4,003.0% during the 1st quarter. GAMMA Investing LLC now owns 4,103 shares of the bank’s stock worth $80,000 after acquiring an additional 4,003 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Civista Bancshares by 103.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 5,120 shares of the bank’s stock worth $108,000 after acquiring an additional 2,609 shares during the last quarter. Man Group plc acquired a new stake in shares of Civista Bancshares during the fourth quarter worth $282,000. Finally, Nuveen Asset Management LLC raised its position in shares of Civista Bancshares by 166.8% during the fourth quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank’s stock worth $1,950,000 after purchasing an additional 57,950 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CIVB. Wall Street Zen lowered Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. Piper Sandler raised their target price on shares of Civista Bancshares from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Keefe, Bruyette & Woods lifted their target price on shares of Civista Bancshares from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. DA Davidson set a $26.00 price target on shares of Civista Bancshares and gave the company a “buy” rating in a research report on Monday, July 14th. Finally, Stephens decreased their price objective on shares of Civista Bancshares from $27.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Civista Bancshares presently has an average rating of “Moderate Buy” and an average price target of $24.80.

Civista Bancshares Stock Down 1.3%

Shares of Civista Bancshares stock opened at $19.47 on Friday. Civista Bancshares, Inc. has a 1 year low of $14.90 and a 1 year high of $25.59. The company has a market cap of $302.17 million, a P/E ratio of 7.70 and a beta of 0.69. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average price of $22.31 and a 200 day moving average price of $21.32.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). The company had revenue of $41.40 million during the quarter, compared to analysts’ expectations of $43.07 million. Civista Bancshares had a return on equity of 9.83% and a net margin of 15.83%. As a group, analysts expect that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.5%. Civista Bancshares’s dividend payout ratio (DPR) is 26.88%.

Insider Activity at Civista Bancshares

In related news, Director Clyde A. Perfect, Jr. purchased 2,352 shares of the company’s stock in a transaction dated Friday, July 11th. The shares were acquired at an average cost of $21.25 per share, with a total value of $49,980.00. Following the completion of the purchase, the director owned 2,352 shares of the company’s stock, valued at $49,980. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nathan E. Weaks acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average price of $19.88 per share, with a total value of $39,760.00. Following the completion of the acquisition, the director owned 8,283 shares of the company’s stock, valued at $164,666.04. This represents a 31.83% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 14,242 shares of company stock worth $298,003. Corporate insiders own 2.60% of the company’s stock.

Civista Bancshares 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.