Civista Bancshares, Inc. (NASDAQ: CIVB – Get a rating) saw significant growth in short-term interest in the month of February. As of February 15, there were short interests totaling 206,000 shares, a growth of 33.0% from the total of 154,900 shares as of January 31. Based on an average daily trading volume of 37,400 shares, the day-to-cover ratio is currently 5.5 days. Currently, 1.5% of the stock’s shares are sold short.
Several equity analysts have recently commented on the CIVB share. DA Davidson reaffirmed a “buy” rating on Civista Bancshares shares in a Wednesday, January 12 research report. Zacks Investment Research downgraded shares of Civista Bancshares from a “hold” rating to a “sell” rating in a Monday, Jan. 3 research report.
Civista Bancshares stock opened at $24.25 on Monday. The company has a market capitalization of $364.38 million, a P/E ratio of 9.19 and a beta of 0.88. The company has a 50-day simple moving average of $24.36. Civista Bancshares has a 1-year low of $21.06 and a 1-year high of $25.94. The company has a debt ratio of 0.30, a quick ratio of 0.90 and a current ratio of 0.90.
Civista Bancshares (NASDAQ:CIVB – Get a rating) last reported results on Thursday, February 3. The bank reported EPS of $0.73 for the quarter, beating Thomson Reuters consensus estimate of $0.61 by $0.12. Civista Bancshares had a net margin of 30.44% and a return on equity of 11.57%. In the same quarter a year earlier, the company posted EPS of $0.64. As a group, equity analysts expect Cavista Bancshares to post EPS of 2.26 for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 1. Shareholders of record on Tuesday, February 15 received a dividend of $0.14. This represents an annualized dividend of $0.56 and a dividend yield of 2.31%. The ex-dividend date was Monday, February 14. The distribution rate of Civista Bancshares is 21.21%.
In other Civista Bancshares news, Director Allen R. Nickles sold 5,000 shares of the company in a trade dated Tuesday, March 1. The shares were sold at an average price of $24.09, for a total value of $120,450.00. The sale was disclosed in an SEC filing, available at the SEC website. Company insiders hold 2.82% of the company’s shares.
Hedge funds have recently been buying and selling stocks. Susquehanna International Group LLP bought a new stock position in Civista Bancshares in the fourth quarter worth approximately $1,433,000. LSV Asset Management increased its position in Cavista Bancshares by 77.0% during the fourth quarter. LSV Asset Management now owns 132,332 shares of the bank worth $3,229,000 after acquiring an additional 57,581 shares during the period. Assenagon Asset Management SA bought a new position in Cavista Bancshares during the fourth quarter for a value of $768,000. Monarch Partners Asset Management LLC increased its stake in Cavista Bancshares by 32.9% in Q3. Monarch Partners Asset Management LLC now owns 115,549 shares of the bank valued at $2,684,000 after purchasing an additional 28,597 shares during the period. Finally, Millennium Management LLC increased its stake in Cavista Bancshares by 145.0% in the 3rd quarter. Millennium Management LLC now owns 47,205 shares of the bank valued at $1,097,000 after purchasing an additional 27,937 shares during the period. Institutional investors and hedge funds own 52.72% of the company’s shares.
About Civista Bancshares (Get a rating)
Civista Bancshares, Inc is a financial holding company engaged in community banking business. It provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland. The Company’s primary deposit products are checking, savings and term certificate accounts, and its lending products are residential, commercial and installment mortgages.
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