Jacobs Levy Equity Management Inc. Takes $651,000 Position in Civista Bancshares, Inc. (NASDAQ:CIVB)

Jacobs Levy Equity Management Inc. bought a new position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 30,942 shares of the bank’s stock, valued at approximately $651,000.

Several other hedge funds have also added to or reduced their stakes in CIVB. Arrowstreet Capital Limited Partnership boosted its position in Civista Bancshares by 210.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank’s stock worth $3,152,000 after buying an additional 101,610 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Civista Bancshares during the 4th quarter worth approximately $1,774,000. American Century Companies Inc. boosted its position in Civista Bancshares by 55.0% during 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 during the period. Prudential Financial Inc. boosted its position in Civista Bancshares by 271.7% during the 4th quarter. Prudential Financial Inc. now owns 53,355 shares of the bank’s stock worth $1,123,000 after buying an additional 39,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Civista Bancshares by 120.7% during the 4th quarter. JPMorgan Chase & Co. now owns 56,144 shares of the bank’s stock worth $1,181,000 after buying an additional 30,706 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $23.21 on Friday. The firm has a market capitalization of $360.20 million, a PE ratio of 11.49 and a beta of 0.69. The firm has a fifty day simple moving average of $20.56 and a two-hundred day simple moving average of $21.10. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $23.90.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. The business had revenue of $40.63 million during the quarter, compared to analyst estimates of $40.33 million. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. Analysts forecast that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, April 29th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, April 29th. This represents a $0.68 dividend on an annualized basis and a yield of 2.93%. Civista Bancshares’s dividend payout ratio (DPR) is presently 29.96%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CIVB. Piper Sandler boosted their price target on shares of Civista Bancshares from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. StockNews.com upgraded shares of Civista Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, February 22nd. DA Davidson set a $27.00 price target on shares of Civista Bancshares in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price objective on shares of Civista Bancshares from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Finally, Stephens lifted their price objective on shares of Civista Bancshares from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.20.

Insiders Place Their Bets

In other news, Chairman Dennis E. Murray, Jr. acquired 6,143 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were purchased at an average cost of $22.44 per share, with a total value of $137,848.92. Following the acquisition, the chairman now directly owns 19,162 shares of the company’s stock, valued at $429,995.28. The trade was a 47.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Civista Bancshares Company Profile

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.