Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Civista Bancshares, Inc. (NASDAQ:CIVB)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 45.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,161 shares of the bank’s stock after purchasing an additional 14,066 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Civista Bancshares were worth $950,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Inspire Investing LLC boosted its position in Civista Bancshares by 1.1% during the fourth quarter. Inspire Investing LLC now owns 52,528 shares of the bank’s stock worth $1,105,000 after purchasing an additional 554 shares in the last quarter. SG Americas Securities LLC boosted its position in Civista Bancshares by 15.6% during the fourth quarter. SG Americas Securities LLC now owns 6,624 shares of the bank’s stock worth $139,000 after purchasing an additional 892 shares in the last quarter. Park National Corp OH boosted its position in Civista Bancshares by 8.6% during the fourth quarter. Park National Corp OH now owns 25,275 shares of the bank’s stock worth $532,000 after purchasing an additional 2,000 shares in the last quarter. Empowered Funds LLC boosted its position in Civista Bancshares by 5.0% during the fourth quarter. Empowered Funds LLC now owns 52,617 shares of the bank’s stock worth $1,107,000 after purchasing an additional 2,482 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Civista Bancshares during the third quarter worth approximately $45,000. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Price Performance

NASDAQ:CIVB opened at $19.64 on Friday. Civista Bancshares, Inc. has a one year low of $13.60 and a one year high of $23.70. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $304.01 million, a PE ratio of 9.72 and a beta of 0.79. The stock has a 50 day moving average price of $20.62 and a 200 day moving average price of $20.18.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 EPS for the quarter, beating the consensus estimate of $0.53 by $0.10. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. Equities research analysts expect that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.17 per share. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, February 4th. This represents a $0.68 annualized dividend and a yield of 3.46%. Civista Bancshares’s dividend payout ratio (DPR) is 33.66%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson set a $27.00 target price on Civista Bancshares in a research report on Friday, January 31st. Stephens restated an “equal weight” rating and issued a $24.00 target price on shares of Civista Bancshares in a research report on Friday, January 31st. Finally, StockNews.com upgraded Civista Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, February 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Civista Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.