Park National Corp OH Has $455,000 Stock Position in Civista Bancshares, Inc. (NASDAQ:CIVB)

Park National Corp OH reduced its stake in Civista Bancshares, Inc. (NASDAQ:CIVB) by 7.9% during the first quarter, Holdings Channel.com reports. The fund owned 23,275 shares of the bank’s stock after selling 2,000 shares during the period. Park National Corp OH’s holdings in Civista Bancshares were worth $455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CIVB. SG Americas Securities LLC lifted its stake in shares of Civista Bancshares by 15.6% in the fourth quarter. SG Americas Securities LLC now owns 6,624 shares of the bank’s stock worth $139,000 after acquiring an additional 892 shares during the period. Empowered Funds LLC lifted its stake in Civista Bancshares by 5.0% in the fourth quarter. Empowered Funds LLC now owns 52,617 shares of the bank’s stock valued at $1,107,000 after buying an additional 2,482 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Civista Bancshares by 45.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,161 shares of the bank’s stock valued at $950,000 after buying an additional 14,066 shares during the period. Summit Global Investments acquired a new position in Civista Bancshares in the fourth quarter valued at approximately $272,000. Finally, American Century Companies Inc. lifted its stake in Civista Bancshares by 55.0% in the fourth quarter. American Century Companies Inc. now owns 191,316 shares of the bank’s stock valued at $4,025,000 after buying an additional 67,889 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Civista Bancshares

In related news, Chairman Dennis E. Murray, Jr. purchased 6,143 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average price of $22.44 per share, for a total transaction of $137,848.92. Following the completion of the acquisition, the chairman now owns 19,162 shares of the company’s stock, valued at $429,995.28. This represents a 47.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. DA Davidson set a $27.00 price target on Civista Bancshares in a research note on Friday, January 31st. Wall Street Zen raised Civista Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, February 22nd. Piper Sandler boosted their price target on Civista Bancshares from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods boosted their price target on 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 boosted their price target 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.20.

Civista Bancshares Price Performance

Shares of NASDAQ:CIVB opened at $23.08 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares, Inc. has a twelve month low of $13.60 and a twelve month high of $24.00. The stock’s 50 day moving average is $21.14 and its 200-day moving average is $21.18. The firm has a market capitalization of $358.18 million, a price-to-earnings ratio of 11.43 and a beta of 0.69.

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

Civista Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, April 29th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Tuesday, April 29th. Civista Bancshares’s payout ratio is 29.96%.

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.