JPMorgan Chase & Co. Buys 30,706 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

JPMorgan Chase & Co. increased its stake in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 120.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,144 shares of the bank's stock after purchasing an additional 30,706 shares during the period. JPMorgan Chase & Co. owned approximately 0.36% of Civista Bancshares worth $1,181,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in CIVB. SG Americas Securities LLC grew its holdings in shares of 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 during the last quarter. Summit Global Investments acquired a new stake in shares of Civista Bancshares during the 4th quarter worth approximately $272,000. Jane Street Group LLC grew its stake in shares of Civista Bancshares by 24.2% in the 3rd quarter. Jane Street Group LLC now owns 20,215 shares of the bank's stock valued at $360,000 after buying an additional 3,934 shares during the period. Park National Corp OH lifted its holdings in shares of Civista Bancshares by 8.6% in the 4th 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. Finally, Barclays PLC increased its position in shares of Civista Bancshares by 40.7% during the third quarter. Barclays PLC now owns 51,521 shares of the bank's stock worth $917,000 after acquiring an additional 14,909 shares in the last quarter. Institutional investors own 52.10% of the company's stock.

Civista Bancshares Stock Performance

Shares of NASDAQ CIVB traded up $1.21 during mid-day trading on Monday, hitting $22.27. The company had a trading volume of 91,869 shares, compared to its average volume of 48,289. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year high of $23.70. The company has a market capitalization of $344.72 million, a price-to-earnings ratio of 11.02 and a beta of 0.67. The stock's 50-day moving average price is $19.79 and its 200-day moving average price is $20.64.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.16. The company had revenue of $40.63 million during the quarter, compared to analyst estimates of $40.33 million. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. On average, sell-side analysts forecast that Civista Bancshares, Inc. will post 2.28 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, April 29th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $0.68 annualized dividend and a dividend yield of 3.05%. Civista Bancshares's payout ratio is currently 29.96%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CIVB. Piper Sandler boosted their target price on Civista Bancshares from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday. Stephens upped their price objective on Civista Bancshares from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Friday. DA Davidson set a $27.00 target price on Civista Bancshares in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday. Finally, StockNews.com raised Civista Bancshares from a "hold" rating to a "buy" rating in a report on Saturday, February 22nd. Two equities research 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 a consensus rating of "Moderate Buy" and an average price target of $25.20.

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.