Insider Buying: Civista Bancshares Inc (CIVB) SVP Buys 1,000 Shares of Stock

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Civista Bancshares Inc (NASDAQ:CIVB) SVP Lance A. Morrison purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was bought at an average price of $21.50 per share, for a total transaction of $21,500.00. Following the purchase, the senior vice president now owns 1,000 shares in the company, valued at $21,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ CIVB remained flat at $$21.50 during mid-day trading on Wednesday. 2,361 shares of the stock traded hands, compared to its average volume of 40,177. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.04 and a quick ratio of 1.03. The stock has a market cap of $247.66 million, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.67 and a beta of 0.53. Civista Bancshares Inc has a 52-week low of $20.41 and a 52-week high of $25.88.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Friday, November 2nd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $19.11 million for the quarter, compared to analysts’ expectations of $22.16 million. Civista Bancshares had a net margin of 12.75% and a return on equity of 12.69%. On average, equities analysts forecast that Civista Bancshares Inc will post 1.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Tuesday, October 23rd were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, October 22nd. This represents a $0.36 annualized dividend and a yield of 1.67%. Civista Bancshares’s payout ratio is 27.07%.

Several analysts have commented on CIVB shares. Zacks Investment Research upgraded shares of Civista Bancshares from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, September 6th. Keefe, Bruyette & Woods restated a “buy” rating and set a $31.00 target price on shares of Civista Bancshares in a research report on Monday, July 30th. Boenning Scattergood restated a “buy” rating on shares of Civista Bancshares in a research report on Monday, July 30th. Hovde Group restated a “hold” rating and set a $26.00 target price on shares of Civista Bancshares in a research report on Thursday, August 2nd. Finally, BidaskClub upgraded shares of Civista Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, September 22nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $26.50.

A number of large investors have recently modified their holdings of CIVB. Huntington National Bank bought a new position in Civista Bancshares during the 3rd quarter valued at about $122,000. MetLife Investment Advisors LLC bought a new position in Civista Bancshares during the 2nd quarter valued at about $127,000. Macquarie Group Ltd. grew its holdings in Civista Bancshares by 544.0% during the 2nd quarter. Macquarie Group Ltd. now owns 8,050 shares of the bank’s stock valued at $195,000 after purchasing an additional 6,800 shares during the last quarter. Rhumbline Advisers bought a new position in Civista Bancshares during the 2nd quarter valued at about $239,000. Finally, Mackay Shields LLC bought a new position in Civista Bancshares during the 2nd quarter valued at about $305,000. Institutional investors own 57.18% of the company’s stock.

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Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.

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