Civista Bancshares, Inc. (NASDAQ:CIVB) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 34.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 357,207 shares of the bank’s stock after selling 187,936 shares during the quarter. Wellington Management Group LLP’s holdings in Civista Bancshares were worth $6,365,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CIVB. Bank of New York Mellon Corp grew its stake in Civista Bancshares by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock worth $1,831,000 after acquiring an additional 4,284 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Civista Bancshares by 10,347.5% in the second 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 during the period. Ritholtz Wealth Management increased its stake in Civista Bancshares by 4.3% in the second quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock valued at $1,416,000 after purchasing an additional 3,800 shares during the last quarter. Rhumbline Advisers lifted its position in Civista Bancshares by 2.6% during the second quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after buying an additional 619 shares during the period. Finally, Princeton Capital Management LLC acquired a new stake in Civista Bancshares in the 2nd quarter worth about $189,000. Institutional investors and hedge funds own 52.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CIVB. Keefe, Bruyette & Woods upped their price objective on shares of Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Wednesday, October 30th. Finally, Stephens upped their price objective on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

Civista Bancshares Trading Up 1.6 %

Shares of CIVB stock opened at $22.80 on Tuesday. Civista Bancshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $23.69. The firm’s 50 day moving average price is $20.97 and its two-hundred day moving average price is $17.87. The stock has a market cap of $358.80 million, a price-to-earnings ratio of 11.34 and a beta of 0.81. 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 (NASDAQ:CIVB) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The firm had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. During the same period in the prior year, the company earned $0.66 EPS. On average, analysts anticipate that Civista Bancshares, Inc. will post 1.91 EPS for the current year.

Civista Bancshares Dividend Announcement

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

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.