Civista Bancshares, Inc. (NASDAQ:CIVB) Short Interest Up 81.2% in June

Civista Bancshares, Inc. (NASDAQ:CIVB) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 495,011 shares, an increase of 81.2% from the June 15th total of 273,182 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily volume of 214,021 shares, the days-to-cover ratio is currently 2.3 days.

Civista Bancshares Stock Performance

CIVB stock opened at $29.06 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $603.87 million, a price-to-earnings ratio of 10.68 and a beta of 0.67. Civista Bancshares has a 12 month low of $18.94 and a 12 month high of $29.38. The firm has a 50 day moving average of $26.62 and a two-hundred day moving average of $24.54.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $47.25 million during the quarter, compared to analysts’ expectations of $45.64 million. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%. As a group, equities analysts anticipate that Civista Bancshares will post 2.82 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio is currently 26.47%.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently modified their holdings of CIVB. NewEdge Advisors LLC boosted its holdings in Civista Bancshares by 57.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after purchasing an additional 481 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Civista Bancshares by 5.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock valued at $179,000 after acquiring an additional 485 shares during the period. Barclays PLC raised its position in Civista Bancshares by 0.9% in the third quarter. Barclays PLC now owns 54,603 shares of the bank’s stock worth $1,109,000 after purchasing an additional 498 shares in the last quarter. CWM LLC raised its position in Civista Bancshares by 12.1% in the fourth quarter. CWM LLC now owns 8,249 shares of the bank’s stock worth $183,000 after purchasing an additional 893 shares in the last quarter. Finally, Vista Investment Management lifted its stake in Civista Bancshares by 5.3% during the fourth quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock worth $404,000 after purchasing an additional 915 shares during the period. 52.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CIVB shares. Weiss Ratings restated a “buy (b)” rating on shares of Civista Bancshares in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Piper Sandler raised their target price on shares of Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Finally, Zacks Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.20.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.