Connor Clark & Lunn Investment Management Ltd. Purchases 8,597 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 38.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,095 shares of the bank’s stock after buying an additional 8,597 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Civista Bancshares were worth $554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in Civista Bancshares by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 50,135 shares of the bank’s stock worth $893,000 after buying an additional 2,546 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Civista Bancshares by 4.4% during the third quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock worth $248,000 after acquiring an additional 589 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Civista Bancshares by 130.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock worth $1,131,000 after acquiring an additional 35,968 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Civista Bancshares in the third quarter worth about $926,000. Finally, SG Americas Securities LLC bought a new stake in shares of Civista Bancshares in the 3rd quarter valued at about $102,000. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens raised their price target on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report 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 price objective 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.25.

Civista Bancshares Price Performance

CIVB opened at $22.88 on Friday. The stock’s 50 day moving average price is $19.86 and its 200-day moving average price is $17.21. Civista Bancshares, Inc. has a 52-week low of $13.60 and a 52-week high of $23.69. The stock has a market capitalization of $360.13 million, a PE ratio of 11.38 and a beta of 0.78. 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 issued its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. The business had revenue of $62.43 million during the quarter, compared to analyst estimates of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. During the same period in the prior year, the business earned $0.66 EPS. On average, equities research analysts predict that Civista Bancshares, Inc. will post 1.91 EPS for the current year.

Civista Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Tuesday, November 5th. Civista Bancshares’s dividend payout ratio is currently 31.84%.

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.