Hotchkis & Wiley Capital Management LLC Decreases Stock Holdings in Civista Bancshares, Inc. (NASDAQ:CIVB)

Hotchkis & Wiley Capital Management LLC trimmed its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 25.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 128,000 shares of the bank's stock after selling 43,560 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.81% of Civista Bancshares worth $2,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Civista Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank's stock worth $12,501,000 after purchasing an additional 8,797 shares during the last quarter. Summit Financial Strategies Inc. grew its stake in Civista Bancshares by 3.2% during the 2nd quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank's stock worth $2,306,000 after buying an additional 4,559 shares during the last quarter. Bank of New York Mellon Corp increased its position in Civista Bancshares by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank's stock valued at $1,831,000 after buying an additional 4,284 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Civista Bancshares by 10,347.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank's stock valued at $197,000 after buying an additional 12,624 shares during the last quarter. Finally, Ritholtz Wealth Management raised its stake in Civista Bancshares by 4.3% in the second quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank's stock valued at $1,416,000 after buying an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors own 52.10% of the company's stock.

Civista Bancshares Stock Performance

NASDAQ CIVB traded down $0.33 during trading hours on Friday, reaching $22.61. The stock had a trading volume of 29,496 shares, compared to its average volume of 57,836. Civista Bancshares, Inc. has a 52-week low of $13.60 and a 52-week high of $23.69. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $355.88 million, a P/E ratio of 11.25 and a beta of 0.81. The stock has a fifty day moving average of $20.38 and a 200 day moving average of $17.51.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.09. The firm had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. During the same quarter in the prior year, the business earned $0.66 earnings per share. Sell-side 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. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.64 annualized dividend and a yield of 2.83%. Civista Bancshares's dividend payout ratio is presently 31.84%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CIVB shares. Keefe, Bruyette & Woods upped their price objective on shares of Civista Bancshares from $22.00 to $25.00 and gave the company an "outperform" rating in a report on Wednesday. Hovde Group upgraded 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 note on Wednesday, October 30th. Finally, Stephens raised their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.