Los Angeles Capital Management LLC Lowers Stake in Civista Bancshares, Inc. (NASDAQ:CIVB)

Los Angeles Capital Management LLC cut its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 31.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,351 shares of the bank’s stock after selling 6,100 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.08% of Civista Bancshares worth $207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CIVB. Victory Capital Management Inc. grew its holdings in shares of Civista Bancshares by 9.7% during the fourth quarter. Victory Capital Management Inc. now owns 47,700 shares of the bank’s stock worth $880,000 after buying an additional 4,212 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Civista Bancshares by 41.1% in the fourth quarter. BNP Paribas Financial Markets now owns 18,660 shares of the bank’s stock valued at $344,000 after purchasing an additional 5,440 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in Civista Bancshares in the fourth quarter valued at approximately $109,000. Gendell Jeffrey L purchased a new stake in Civista Bancshares during the fourth quarter worth approximately $184,000. Finally, Wellington Management Group LLP grew its stake in Civista Bancshares by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock worth $11,164,000 after buying an additional 5,400 shares during the period. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

Civista Bancshares Stock Up 4.8 %

Civista Bancshares stock opened at $17.41 on Monday. The company has a 50-day simple moving average of $16.69 and a 200-day simple moving average of $15.35. The firm has a market capitalization of $274.03 million, a P/E ratio of 7.47 and a beta of 0.80. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.01 and a current ratio of 1.01. Civista Bancshares, Inc. has a one year low of $13.60 and a one year high of $19.00.

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

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Tuesday, August 6th. Civista Bancshares’s payout ratio is 27.47%.

Insider Buying and Selling at Civista Bancshares

In other Civista Bancshares news, Director Julie A. Mattlin purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $15.60 per share, with a total value of $31,200.00. Following the acquisition, the director now owns 12,442 shares of the company’s stock, valued at $194,095.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CIVB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Piper Sandler upped 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. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $18.25.

Civista Bancshares 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.