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Lance A. Morrison, SVP, Legal Counsel at CIVISTA BANCSHARES, INC. (NASDAQ:CIVB), recently purchased 1,000 shares of common stock at $21.25 per share, totaling $21,250. The stock, which currently trades at $21.44, has experienced a significant 12.8% decline over the past week, according to InvestingPro data.
The transaction, which occurred on July 11, 2025, was disclosed in a Form 4 filing with the Securities and Exchange Commission. Following the purchase, Morrison directly owns 6,012 shares of Civista Bancshares. The regional bank, with a market capitalization of $404 million, offers a 3.13% dividend yield and has maintained dividend payments for 15 consecutive years. Analyst price targets range from $24 to $28, suggesting potential upside from current levels.
In other recent news, Civista Bancshares reported strong financial results for the first quarter of 2025, with earnings per share (EPS) of $0.66, exceeding analyst expectations of $0.51. The company’s revenue also surpassed projections, reaching $40.63 million against a forecast of $40.33 million. Civista announced a definitive merger agreement to acquire The Farmers Savings Bank for approximately $70.4 million, a move expected to enhance its presence in Northeast Ohio and add significant assets and deposits. This acquisition is anticipated to be accretive to Civista’s diluted earnings per share by about 10% once cost savings are fully implemented. DA Davidson adjusted its price target for Civista Bancshares to $26 from $27, maintaining a Buy rating, while Stephens increased its price target to $25 from $24 with an Equal Weight rating. The stock’s underperformance compared to peers was noted, attributed to a relatively low tangible common equity ratio and higher levels of non-performing assets. Civista’s recent public offering of common shares aims to support organic growth and potential strategic transactions, with Piper Sandler & Co. as the sole book-running manager.
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