Wellington Management Group LLP Sells 187,936 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Wellington Management Group LLP trimmed its stake in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 34.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,207 shares of the bank's stock after selling 187,936 shares during the period. Wellington Management Group LLP owned about 2.27% of Civista Bancshares worth $6,365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management LLC lifted its position in Civista Bancshares by 4.4% in the third quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank's stock worth $248,000 after purchasing an additional 589 shares during the period. Rhumbline Advisers raised its stake in shares of Civista Bancshares by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank's stock valued at $375,000 after buying an additional 619 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Civista Bancshares by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 50,135 shares of the bank's stock worth $893,000 after acquiring an additional 2,546 shares during the period. Victory Capital Management Inc. boosted its position in shares of Civista Bancshares by 5.4% during the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank's stock valued at $800,000 after acquiring an additional 2,650 shares in the last quarter. Finally, State Street Corp increased its stake in Civista Bancshares by 1.1% in the third quarter. State Street Corp now owns 298,557 shares of the bank's stock valued at $5,320,000 after acquiring an additional 3,112 shares during the period. Institutional investors own 52.10% of the company's stock.

Civista Bancshares Price Performance

Shares of NASDAQ:CIVB traded down $0.31 during trading on Tuesday, reaching $22.49. The stock had a trading volume of 76,616 shares, compared to its average volume of 42,539. The stock has a market capitalization of $353.93 million, a PE ratio of 11.54 and a beta of 0.81. 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, Inc. has a 52 week low of $13.60 and a 52 week high of $23.69. The business's 50-day moving average price is $20.97 and its 200 day moving average price is $17.87.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. The company had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, equities analysts predict that Civista Bancshares, Inc. will post 1.91 earnings per share for the current year.

Civista Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Tuesday, November 5th. Civista Bancshares's payout ratio is presently 31.84%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Civista Bancshares from $22.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Stephens boosted their price target on Civista Bancshares from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Hovde Group upgraded 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. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Civista Bancshares presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.75.

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.