The Manufacturers Life Insurance Company Decreases Stock Position in Civista Bancshares, Inc. (NASDAQ:CIVB)

The Manufacturers Life Insurance Company trimmed its holdings in Civista Bancshares, Inc. (NASDAQ:CIVB) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 464,389 shares of the bank’s stock after selling 8,626 shares during the period. The Manufacturers Life Insurance Company owned 2.95% of Civista Bancshares worth $8,275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of CIVB. Los Angeles Capital Management LLC raised its position in shares of Civista Bancshares by 4.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock worth $248,000 after purchasing an additional 589 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Civista Bancshares by 2.6% in the second quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after acquiring an additional 619 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Civista Bancshares by 5.3% in the third quarter. Empowered Funds LLC now owns 50,135 shares of the bank’s stock valued at $893,000 after acquiring an additional 2,546 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Civista Bancshares by 5.4% during the second quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock valued at $800,000 after acquiring an additional 2,650 shares during the last quarter. Finally, Ritholtz Wealth Management increased its position in Civista Bancshares by 4.3% during the 2nd quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock worth $1,416,000 after purchasing an additional 3,800 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Stock Down 0.3 %

CIVB opened at $22.75 on Wednesday. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $23.69. The business has a 50-day moving average of $20.06 and a two-hundred day moving average of $17.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $358.09 million, a price-to-earnings ratio of 11.32 and a beta of 0.81.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. The business had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. During the same quarter in the previous year, the business earned $0.66 EPS. On average, research analysts expect that Civista Bancshares, Inc. will post 1.91 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Tuesday, November 5th. Civista Bancshares’s payout ratio is 31.84%.

Wall Street Analysts Forecast Growth

CIVB has been the topic of several analyst reports. Stephens raised their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

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.