Prudential Financial Inc. Has $1.12 Million Stock Position in Civista Bancshares, Inc. (NASDAQ:CIVB)

Prudential Financial Inc. grew its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 271.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,355 shares of the bank's stock after purchasing an additional 39,000 shares during the period. Prudential Financial Inc. owned about 0.34% of Civista Bancshares worth $1,123,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC raised its holdings in Civista Bancshares by 40.7% during the 3rd quarter. Barclays PLC now owns 51,521 shares of the bank's stock worth $917,000 after buying an additional 14,909 shares during the period. State Street Corp increased its position in shares of Civista Bancshares by 1.1% in the third quarter. State Street Corp now owns 298,557 shares of the bank's stock worth $5,320,000 after acquiring an additional 3,112 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Civista Bancshares by 90.1% during the third quarter. JPMorgan Chase & Co. now owns 25,438 shares of the bank's stock valued at $453,000 after acquiring an additional 12,059 shares during the period. Geode Capital Management LLC raised its holdings in shares of Civista Bancshares by 2.8% during the third quarter. Geode Capital Management LLC now owns 348,352 shares of the bank's stock valued at $6,208,000 after acquiring an additional 9,501 shares during the period. Finally, Summit Global Investments purchased a new stake in shares of Civista Bancshares in the 4th quarter valued at approximately $272,000. 52.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CIVB. Stephens reiterated an "equal weight" rating and set a $24.00 price objective on shares of Civista Bancshares in a research report on Friday, January 31st. DA Davidson set a $27.00 price target on Civista Bancshares in a report on Friday, January 31st. Finally, StockNews.com raised Civista Bancshares from a "hold" rating to a "buy" rating in a research note on Saturday, February 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.40.

Civista Bancshares Stock Down 2.2 %

CIVB stock traded down $0.41 during midday trading on Friday, reaching $18.44. The company had a trading volume of 37,551 shares, compared to its average volume of 47,480. The company has a 50 day moving average of $20.06 and a two-hundred day moving average of $20.45. The company has a market capitalization of $285.43 million, a P/E ratio of 9.13 and a beta of 0.67. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year high of $23.70. 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 (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.10. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. On average, equities research analysts expect that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This is an increase from Civista Bancshares's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.69%. Civista Bancshares's dividend payout ratio (DPR) is 33.66%.

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.