Civista Bancshares (NASDAQ:CIVB) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Civista Bancshares, Inc. (NASDAQ:CIVB) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.12 and traded as high as $22.09. Civista Bancshares shares last traded at $21.95, with a volume of 26,040 shares.

Analyst Ratings Changes

CIVB has been the subject of several recent research reports. Stephens lifted their price objective on Civista Bancshares from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Keefe, Bruyette & Woods upped their target price on Civista Bancshares from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Piper Sandler increased their price target on shares of Civista Bancshares from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Finally, Wall Street Zen downgraded shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Civista Bancshares has a consensus rating of “Hold” and an average price target of $25.20.

Civista Bancshares Stock Performance

The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $340.66 million, a price-to-earnings ratio of 9.67 and a beta of 0.69. The stock’s 50-day moving average is $21.88 and its 200 day moving average is $21.12.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, topping the consensus estimate of $0.50 by $0.16. The business had revenue of $40.63 million for the quarter, compared to analyst estimates of $40.33 million. Civista Bancshares had a return on equity of 9.13% and a net margin of 14.35%. As a group, analysts predict that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, April 29th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Tuesday, April 29th. Civista Bancshares’s payout ratio is 29.96%.

Insider Buying and Selling

In other news, Chairman Dennis E. Murray, Jr. bought 6,143 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average cost of $22.44 per share, for a total transaction of $137,848.92. Following the completion of the purchase, the chairman now owns 19,162 shares of the company’s stock, valued at $429,995.28. This trade represents a 47.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Civista Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its position in shares of Civista Bancshares by 210.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank’s stock worth $3,152,000 after purchasing an additional 101,610 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Civista Bancshares in the fourth quarter worth $1,774,000. Nuveen LLC bought a new stake in Civista Bancshares in the 1st quarter valued at about $1,594,000. American Century Companies Inc. grew its holdings in Civista Bancshares by 55.0% in the 4th quarter. American Century Companies Inc. now owns 191,316 shares of the bank’s stock worth $4,025,000 after buying an additional 67,889 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Civista Bancshares by 166.8% during the 4th quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank’s stock valued at $1,950,000 after buying an additional 57,950 shares during the period. 52.10% of the stock is owned by hedge funds and other institutional investors.

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.