Civista Bancshares, Inc. (NASDAQ:CIVB) Short Interest Update

Civista Bancshares, Inc. (NASDAQ:CIVB) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 495,011 shares, a growth of 81.2% from the June 15th total of 273,182 shares. Based on an average daily volume of 214,021 shares, the short-interest ratio is currently 2.3 days. Approximately 2.4% of the company’s shares are short sold.

Institutional Investors Weigh In On Civista Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIVB. Wellington Management Group LLP lifted its stake in Civista Bancshares by 1,092.1% in the third quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock valued at $29,938,000 after buying an additional 1,350,409 shares during the period. Vanguard Group Inc. grew its position in shares of Civista Bancshares by 19.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock worth $20,752,000 after buying an additional 166,049 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Civista Bancshares by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank’s stock valued at $21,658,000 after acquiring an additional 40,176 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Civista Bancshares by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 462,583 shares of the bank’s stock valued at $10,281,000 after acquiring an additional 32,146 shares during the last quarter. Finally, State Street Corp raised its position in shares of Civista Bancshares by 6.7% in the 4th quarter. State Street Corp now owns 411,500 shares of the bank’s stock valued at $9,144,000 after acquiring an additional 25,672 shares during the period. Institutional investors own 52.10% of the company’s stock.

Civista Bancshares Trading Down 1.9%

Shares of CIVB traded down $0.55 on Friday, reaching $28.51. 135,114 shares of the company’s stock were exchanged, compared to its average volume of 153,989. The business has a 50 day moving average price of $26.69 and a two-hundred day moving average price of $24.57. Civista Bancshares has a 12 month low of $18.94 and a 12 month high of $29.38. The stock has a market capitalization of $592.44 million, a P/E ratio of 10.48 and a beta of 0.67. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The firm had revenue of $47.25 million for the quarter, compared to analysts’ expectations of $45.64 million. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. Research analysts anticipate that Civista Bancshares will post 2.82 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio (DPR) is currently 26.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CIVB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a research report on Wednesday, July 8th. Piper Sandler boosted their target price on Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Zacks Research lowered Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Wall Street Zen cut Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Civista Bancshares currently has an average rating of “Hold” and a consensus target price of $27.20.

About Civista Bancshares

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.