Civista Bancshares, Inc. (NASDAQ:CIVB) Short Interest Up 15.8% in September

by · The Markets Daily

Civista Bancshares, Inc. (NASDAQ:CIVB – Get Free Report) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 164,000 shares, an increase of 15.8% from the September 15th total of 141,600 shares. Based on an average daily trading volume, of 50,600 shares, the days-to-cover ratio is currently 3.2 days. Currently, 1.1% of the company’s stock are sold short.

Civista Bancshares Stock Up 1.1 %

Shares of CIVB stock traded up $0.20 during trading hours on Wednesday, hitting $18.35. 43,034 shares of the company were exchanged, compared to its average volume of 38,545. The stock has a market capitalization of $288.59 million, a price-to-earnings ratio of 7.88 and a beta of 0.80. Civista Bancshares has a one year low of $13.60 and a one year high of $19.00. The business’s 50-day simple moving average is $17.06 and its two-hundred day simple moving average is $15.79. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.01 and a current ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB – Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $61.14 million for the quarter, compared to analysts’ expectations of $36.57 million. Civista Bancshares had a return on equity of 9.24% and a net margin of 14.48%. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Sell-side analysts predict that Civista Bancshares will post 1.76 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Tuesday, August 6th. Civista Bancshares’s dividend payout ratio is presently 27.47%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler increased their price target on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.25.

Check Out Our Latest Analysis on CIVB

Insider Activity at Civista Bancshares

In other news, Director Julie A. Mattlin bought 2,000 shares of Civista Bancshares stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $15.60 per share, with a total value of $31,200.00. Following the completion of the transaction, the director now owns 12,442 shares in the company, valued at approximately $194,095.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.01% of the company’s stock.

Institutional Trading of Civista Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC bought a new position in shares of Civista Bancshares in the 3rd quarter worth about $926,000. SG Americas Securities LLC acquired a new stake in Civista Bancshares during the third quarter worth about $102,000. AQR Capital Management LLC bought a new position in Civista Bancshares in the second quarter worth about $323,000. Hsbc Holdings PLC lifted its holdings in Civista Bancshares by 30.9% in the second quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock worth $318,000 after acquiring an additional 4,985 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Civista Bancshares by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock valued at $12,316,000 after acquiring an additional 6,234 shares during the period. Institutional investors own 52.10% of the company’s stock.

Civista Bancshares Company Profile

(Get Free Report)

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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