Civista Bancshares, Inc. (NASDAQ:CIVB) Holdings Raised by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its stake in Civista Bancshares, Inc. (NASDAQ:CIVB) by 4.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,940 shares of the bank’s stock after purchasing an additional 589 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Civista Bancshares were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Civista Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock worth $12,501,000 after buying an additional 8,797 shares during the period. Dimensional Fund Advisors LP boosted its stake in Civista Bancshares by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock worth $12,316,000 after purchasing an additional 6,234 shares during the period. Summit Financial Strategies Inc. grew its position in Civista Bancshares by 3.2% during the 2nd quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank’s stock worth $2,306,000 after purchasing an additional 4,559 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Civista Bancshares by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock valued at $1,831,000 after purchasing an additional 4,284 shares during the period. Finally, Ritholtz Wealth Management raised its stake in Civista Bancshares by 4.3% during the 2nd 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 period. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Stock Up 0.1 %

Shares of Civista Bancshares stock opened at $22.32 on Tuesday. The firm has a market cap of $351.25 million, a price-to-earnings ratio of 11.10 and a beta of 0.78. The stock has a 50-day simple moving average of $18.77 and a 200-day simple moving average of $16.67. Civista Bancshares, Inc. has a 52-week low of $13.60 and a 52-week high of $23.69. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB) last posted 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. 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 previous year, the company earned $0.66 earnings per share. On average, equities research analysts expect that Civista Bancshares, Inc. will post 1.91 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Tuesday, November 5th. Civista Bancshares’s dividend payout ratio is presently 31.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CIVB. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Wednesday, October 30th. Stephens increased 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 report on Wednesday, October 30th. Finally, Piper Sandler boosted their price objective on shares of Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.