Geode Capital Management LLC Purchases 9,501 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Geode Capital Management LLC raised its holdings in Civista Bancshares, Inc. (NASDAQ:CIVB) by 2.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 348,352 shares of the bank’s stock after purchasing an additional 9,501 shares during the period. Geode Capital Management LLC’s holdings in Civista Bancshares were worth $6,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in Civista Bancshares by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock valued at $1,831,000 after acquiring an additional 4,284 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Civista Bancshares by 10,347.5% in the 2nd 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 in the last quarter. Rhumbline Advisers grew its holdings in shares of Civista Bancshares by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after purchasing an additional 619 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Civista Bancshares by 5.4% during the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock worth $800,000 after purchasing an additional 2,650 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Civista Bancshares by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock valued at $12,316,000 after purchasing an additional 6,234 shares during the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Trading Up 2.0 %

NASDAQ CIVB opened at $20.80 on Friday. The stock has a market capitalization of $327.33 million, a price-to-earnings ratio of 10.35 and a beta of 0.81. Civista Bancshares, Inc. has a 52 week low of $13.60 and a 52 week high of $23.69. The stock’s 50 day moving average price is $21.88 and its two-hundred day moving average price is $18.51. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95.

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

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Tuesday, November 5th. Civista Bancshares’s dividend payout ratio is 31.84%.

Analyst Upgrades and Downgrades

CIVB has been the subject of a number of research analyst reports. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price objective on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stephens increased their target price 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

About Civista Bancshares

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.