Ritholtz Wealth Management Sells 18,896 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Ritholtz Wealth Management lessened its stake in Civista Bancshares, Inc. (NASDAQ:CIVB) by 20.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,500 shares of the bank’s stock after selling 18,896 shares during the quarter. Ritholtz Wealth Management owned about 0.46% of Civista Bancshares worth $1,292,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of Civista Bancshares in the 2nd quarter valued at approximately $323,000. Quadrature Capital Ltd bought a new stake in Civista Bancshares during the fourth quarter worth $274,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Civista Bancshares by 10,347.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock valued at $197,000 after purchasing an additional 12,624 shares in the last quarter. Princeton Capital Management LLC bought a new position in shares of Civista Bancshares in the 2nd quarter valued at $189,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Civista Bancshares by 53.3% during the 1st quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank’s stock worth $440,000 after buying an additional 9,953 shares in the last quarter. Institutional investors own 52.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director Julie A. Mattlin purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $15.60 per share, with a total value of $31,200.00. Following the completion of the purchase, the director now owns 12,442 shares in the company, valued at approximately $194,095.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.01% of the company’s stock.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $17.75 on Monday. The business’s 50-day moving average price is $16.91 and its 200-day moving average price is $15.74. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $19.00. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $279.15 million, a price-to-earnings ratio of 7.62 and a beta of 0.80.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Monday, July 29th. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.24%. The firm had revenue of $61.14 million for the quarter, compared to analyst estimates of $36.57 million. During the same period in the previous year, the firm posted $0.64 EPS. Equities research analysts forecast that Civista Bancshares, Inc. will post 1.76 EPS for the current year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Tuesday, August 6th. Civista Bancshares’s dividend payout ratio is currently 27.47%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CIVB. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $19.00 price objective (up from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Piper Sandler lifted their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Civista Bancshares has an average rating of “Hold” and a consensus price target of $18.25.

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.