Civista Bancshares, Inc. (NASDAQ:CIVB – Get Free Report) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totalling 131,600 shares, a drop of 8.1% from the December 15th total of 143,200 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 31,200 shares, the days-to-cover ratio is presently 4.2 days.
Analyst Ratings Changes
Separately, StockNews.com initiated coverage on Civista Bancshares in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.
Civista Bancshares Stock Performance
Civista Bancshares (NASDAQ:CIVB – Get Free Report) last announced its quarterly earnings results on Friday, October 27th. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. Civista Bancshares had a return on equity of 13.32% and a net margin of 21.95%. The firm had revenue of $39.63 million for the quarter, compared to analyst estimates of $39.90 million. On average, analysts anticipate that Civista Bancshares will post 2.64 EPS for the current fiscal year.
Civista Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Monday, November 6th. Civista Bancshares’s payout ratio is 22.15%.
Institutional Trading of Civista Bancshares
A number of hedge funds have recently made changes to their positions in CIVB. Allspring Global Investments Holdings LLC boosted its stake in shares of Civista Bancshares by 294.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock valued at $38,000 after purchasing an additional 1,830 shares in the last quarter. FMR LLC boosted its stake in shares of Civista Bancshares by 74.1% during the first quarter. FMR LLC now owns 2,277 shares of the bank’s stock valued at $38,000 after purchasing an additional 969 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Civista Bancshares by 244.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,565 shares of the bank’s stock worth $54,000 after acquiring an additional 1,820 shares during the last quarter. Citigroup Inc. bought a new position in shares of Civista Bancshares during the second quarter worth about $83,000. Finally, Wells Fargo & Company MN raised its position in shares of Civista Bancshares by 115.6% during the second quarter. Wells Fargo & Company MN now owns 5,888 shares of the bank’s stock worth $102,000 after acquiring an additional 3,157 shares during the last quarter. 50.16% of the stock is owned by institutional investors and hedge funds.
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.
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