Civista Bancshares, Inc. $CIVB Stake Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,208 shares of the bank’s stock after purchasing an additional 497 shares during the quarter. Russell Investments Group Ltd. owned 0.18% of Civista Bancshares worth $532,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Civista Bancshares in the first quarter valued at $1,594,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Civista Bancshares by 13.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,216 shares of the bank’s stock valued at $1,001,000 after buying an additional 6,055 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Civista Bancshares by 443.5% in the first quarter. PNC Financial Services Group Inc. now owns 11,979 shares of the bank’s stock valued at $234,000 after buying an additional 9,775 shares during the last quarter. Bailard Inc. bought a new stake in Civista Bancshares in the first quarter valued at $352,000. Finally, Segall Bryant & Hamill LLC lifted its stake in Civista Bancshares by 33.9% in the first quarter. Segall Bryant & Hamill LLC now owns 112,887 shares of the bank’s stock valued at $2,206,000 after buying an additional 28,581 shares during the last quarter. 52.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CIVB has been the topic of a number of recent research reports. Stephens cut their target price on Civista Bancshares from $27.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 29th. DA Davidson set a $26.00 target price on Civista Bancshares and gave the company a “buy” rating in a research note on Monday, July 14th. Hovde Group cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research note on Monday, August 18th. Finally, Wall Street Zen cut Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.80.

Insider Transactions at Civista Bancshares

In other news, Director Nathan E. Weaks bought 2,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $19.88 per share, with a total value of $39,760.00. Following the completion of the acquisition, the director directly owned 8,283 shares in the company, valued at approximately $164,666.04. The trade was a 31.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard J. Dutton bought 4,000 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were purchased at an average cost of $21.25 per share, for a total transaction of $85,000.00. Following the completion of the acquisition, the senior vice president owned 4,000 shares of the company’s stock, valued at $85,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 14,742 shares of company stock valued at $307,978 in the last three months. 2.60% of the stock is currently owned by insiders.

Civista Bancshares Price Performance

Shares of CIVB opened at $21.19 on Monday. The firm has a market capitalization of $409.18 million, a price-to-earnings ratio of 8.38 and a beta of 0.76. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 0.99. Civista Bancshares, Inc. has a one year low of $16.24 and a one year high of $25.59. The stock’s fifty day moving average is $21.42 and its 200-day moving average is $21.16.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). The business had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.07 million. Civista Bancshares had a net margin of 15.83% and a return on equity of 9.77%. Equities analysts anticipate that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, August 5th. Civista Bancshares’s payout ratio is presently 26.88%.

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.