Bank of New York Mellon Corp reduced its stake in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 44.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,752 shares of the bank's stock after selling 47,373 shares during the quarter. Bank of New York Mellon Corp owned 0.37% of Civista Bancshares worth $1,236,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Civista Bancshares by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 348,352 shares of the bank's stock worth $6,208,000 after buying an additional 9,501 shares in the last quarter. State Street Corp increased its position in shares of Civista Bancshares by 1.1% during the 3rd quarter. State Street Corp now owns 298,557 shares of the bank's stock worth $5,320,000 after purchasing an additional 3,112 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Civista Bancshares by 5.0% during the 4th 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. Inspire Investing LLC boosted its holdings in shares of Civista Bancshares by 1.1% in the 4th quarter. Inspire Investing LLC now owns 52,528 shares of the bank's stock valued at $1,105,000 after buying an additional 554 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Civista Bancshares by 40.7% in the third quarter. Barclays PLC now owns 51,521 shares of the bank's stock valued at $917,000 after buying an additional 14,909 shares in the last quarter. Institutional investors own 52.10% of the company's stock.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Civista Bancshares from $22.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Civista Bancshares from a "hold" rating to a "buy" rating in a research note on Saturday, February 22nd. Stephens reissued an "equal weight" rating and set a $24.00 price target on shares of Civista Bancshares in a research report on Friday, January 31st. Finally, DA Davidson set a $27.00 price objective on Civista Bancshares in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $23.40.
Check Out Our Latest Report on CIVB
Civista Bancshares Stock Performance
Shares of Civista Bancshares stock traded up $0.20 on Thursday, hitting $19.92. The stock had a trading volume of 29,149 shares, compared to its average volume of 44,544. The stock has a market cap of $308.34 million, a price-to-earnings ratio of 9.86 and a beta of 0.79. The business's 50 day moving average is $20.61 and its two-hundred day moving average is $20.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares, Inc. has a twelve month low of $13.60 and a twelve month high of $23.70.
Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released 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 net margin of 12.96% and a return on equity of 8.35%. Analysts forecast that Civista Bancshares, Inc. will post 2.28 EPS for the current year.
Civista Bancshares Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were paid a $0.17 dividend. This is a boost from Civista Bancshares's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, February 4th. Civista Bancshares's payout ratio is 33.66%.
Civista Bancshares Profile
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Free Report)
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.
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