Public Employees Retirement System of Ohio Buys Shares of 2,511 Civista Bancshares, Inc. (NASDAQ:CIVB)

Public Employees Retirement System of Ohio purchased a new stake in Civista Bancshares, Inc. (NASDAQ:CIVB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,511 shares of the bank’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC acquired a new position in Civista Bancshares in the third quarter valued at about $926,000. Assenagon Asset Management S.A. increased its stake 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 valued at $1,131,000 after acquiring an additional 35,968 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Civista Bancshares in the 2nd quarter valued at approximately $323,000. Allspring Global Investments Holdings LLC boosted its stake in Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after acquiring an additional 12,624 shares during the last quarter. Finally, Princeton Capital Management LLC acquired a new position in Civista Bancshares during the second quarter valued at approximately $189,000. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Stock Performance

CIVB opened at $21.33 on Monday. The company has a market capitalization of $335.67 million, a price-to-earnings ratio of 10.61 and a beta of 0.81. The business’s 50-day moving average price is $21.29 and its two-hundred day moving average price is $18.07. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year 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 0.95.

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

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.64 annualized dividend and a yield of 3.00%. Civista Bancshares’s payout ratio is currently 31.84%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CIVB shares. Hovde Group raised 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 research report on Wednesday, October 30th. Stephens lifted 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. Finally, Keefe, Bruyette & Woods increased their price target on Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.