Bank of New York Mellon Corp Purchases New Stake in Civista Bancshares, Inc. (NASDAQ:CIVB)
Bank of New York Mellon Corp purchased a new stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) during the first quarter, Holdings Channel reports. The fund purchased 12,025 shares of the bank’s stock, valued at approximately $267,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Nationwide Fund Advisors purchased a new position in Civista Bancshares during the first quarter valued at $759,000. Russell Investments Group Ltd. boosted its position in Civista Bancshares by 771.0% in the first quarter. Russell Investments Group Ltd. now owns 50,155 shares of the bank’s stock valued at $1,110,000 after buying an additional 44,397 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in Civista Bancshares by 136.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 121,319 shares of the bank’s stock valued at $2,688,000 after buying an additional 70,000 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in Civista Bancshares during the first quarter valued at $367,000. Finally, LSV Asset Management boosted its position in Civista Bancshares by 3.2% in the first quarter. LSV Asset Management now owns 55,500 shares of the bank’s stock valued at $1,229,000 after buying an additional 1,700 shares during the last quarter. 34.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Civista Bancshares, Inc. (CIVB) opened at 20.37 on Wednesday. The stock has a market capitalization of $207.14 million, a price-to-earnings ratio of 15.12 and a beta of 0.47. Civista Bancshares, Inc. has a 1-year low of $13.51 and a 1-year high of $23.75. The stock has a 50 day moving average price of $20.67 and a 200 day moving average price of $21.33.
Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Friday, July 28th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.04. The business had revenue of $17.47 million for the quarter, compared to analyst estimates of $17.70 million. Civista Bancshares had a net margin of 21.97% and a return on equity of 11.83%. Equities research analysts anticipate that Civista Bancshares, Inc. will post $1.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were given a dividend of $0.06 per share. The ex-dividend date was Friday, July 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.18%. Civista Bancshares’s dividend payout ratio is presently 17.65%.
Several equities analysts have recently weighed in on CIVB shares. Zacks Investment Research raised Civista Bancshares from a “sell” rating to a “hold” rating and set a $25.00 price target on the stock in a report on Tuesday, May 2nd. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Civista Bancshares in a report on Friday, May 12th. DA Davidson restated a “neutral” rating and issued a $24.50 price objective on shares of Civista Bancshares in a research note on Tuesday, July 4th. Finally, Boenning Scattergood set a $24.00 price objective on Civista Bancshares and gave the stock a “buy” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Civista Bancshares has a consensus rating of “Hold” and a consensus target price of $22.65.
In other Civista Bancshares news, Director Dennis E. Murray, Jr. bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average cost of $21.38 per share, for a total transaction of $42,760.00. Following the completion of the transaction, the director now directly owns 14,023 shares of the company’s stock, valued at approximately $299,811.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Voight sold 5,884 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $20.78, for a total transaction of $122,269.52. The disclosure for this sale can be found here. Insiders have purchased 4,050 shares of company stock valued at $82,998 over the last 90 days. 4.79% of the stock is currently owned by insiders.
About Civista Bancshares
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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