Civista Bancshares, Inc. $CIVB Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 377.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,966 shares of the bank’s stock after buying an additional 175,514 shares during the quarter. Ritholtz Wealth Management owned about 1.43% of Civista Bancshares worth $5,150,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CWM LLC raised its stake in Civista Bancshares by 43.7% during the 1st quarter. CWM LLC now owns 3,084 shares of the bank’s stock worth $60,000 after acquiring an additional 938 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Civista Bancshares by 4,003.0% during the first quarter. GAMMA Investing LLC now owns 4,103 shares of the bank’s stock worth $80,000 after purchasing an additional 4,003 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Civista Bancshares by 443.5% during the first quarter. PNC Financial Services Group Inc. now owns 11,979 shares of the bank’s stock worth $234,000 after purchasing an additional 9,775 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in shares of Civista Bancshares during the first quarter worth about $255,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Civista Bancshares in the 2nd quarter valued at about $415,000. 52.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Civista Bancshares

In other Civista Bancshares news, Director Nathan E. Weaks bought 2,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $19.88 per share, for a total transaction of $39,760.00. Following the transaction, the director owned 8,283 shares of the company’s stock, valued at approximately $164,666.04. This trade represents a 31.83% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders purchased 3,500 shares of company stock worth $69,085. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CIVB. Wall Street Zen downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. Zacks Research raised Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Stephens cut their target price on shares of Civista Bancshares from $27.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 29th. Hovde Group downgraded shares of Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a research report on Monday, August 18th. Finally, DA Davidson set a $26.00 price target on shares of Civista Bancshares and gave the stock a “buy” rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Civista Bancshares presently has a consensus rating of “Hold” and an average target price of $24.80.

Civista Bancshares Stock Performance

NASDAQ:CIVB opened at $21.34 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $412.08 million, a price-to-earnings ratio of 8.43 and a beta of 0.73. The firm’s fifty day moving average price is $20.58 and its 200 day moving average price is $21.30. Civista Bancshares, Inc. has a 1-year low of $17.47 and a 1-year high of $25.59.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Thursday, July 24th. The bank reported $0.66 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.03). The firm had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.07 million. Civista Bancshares had a return on equity of 9.77% and a net margin of 15.83%. On average, sell-side analysts expect that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th were issued a $0.17 dividend. 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 currently 26.88%.

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.