Insider Buying: Civista Bancshares, Inc. (NASDAQ:CIVB) CFO Purchases $22,300.00 in Stock

Civista Bancshares, Inc. (NASDAQ:CIVB) CFO Ian Whinnem purchased 1,000 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $22.30 per share, for a total transaction of $22,300.00. Following the completion of the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at $22,300. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Civista Bancshares Price Performance

NASDAQ CIVB opened at $21.33 on Monday. Civista Bancshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $23.69. The stock’s 50-day moving average is $21.29 and its two-hundred day moving average is $18.07. The firm has a market cap of $335.67 million, a P/E ratio of 10.61 and a beta of 0.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. The firm had revenue of $62.43 million during the quarter, compared to analyst estimates of $37.60 million. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. During the same period in the previous year, the company earned $0.66 EPS. On average, analysts anticipate that Civista Bancshares, Inc. will post 1.91 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Tuesday, November 5th. Civista Bancshares’s dividend payout ratio is currently 31.84%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CIVB. Bank of New York Mellon Corp boosted its holdings in Civista Bancshares by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock valued at $1,831,000 after acquiring an additional 4,284 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock valued at $197,000 after purchasing an additional 12,624 shares during the period. Ritholtz Wealth Management grew its holdings in Civista Bancshares by 4.3% in the 2nd quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock valued at $1,416,000 after buying an additional 3,800 shares during the last quarter. Rhumbline Advisers grew its holdings in Civista Bancshares by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock valued at $375,000 after buying an additional 619 shares during the last quarter. Finally, Princeton Capital Management LLC bought a new position in Civista Bancshares in the 2nd quarter worth approximately $189,000. Institutional investors own 52.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CIVB shares. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price target on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens increased their price objective on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

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.