Mendon Capital Advisors Corp Purchases 26,270 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Mendon Capital Advisors Corp grew its stake in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,450 shares of the bank's stock after buying an additional 26,270 shares during the period. Civista Bancshares accounts for about 2.5% of Mendon Capital Advisors Corp's holdings, making the stock its 12th biggest holding. Mendon Capital Advisors Corp owned 1.54% of Civista Bancshares worth $5,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CIVB. Arrowstreet Capital Limited Partnership boosted its position in shares of Civista Bancshares by 210.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank's stock valued at $3,152,000 after purchasing an additional 101,610 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Civista Bancshares in the 4th quarter valued at $1,774,000. American Century Companies Inc. lifted its position in shares of Civista Bancshares by 55.0% during the fourth quarter. American Century Companies Inc. now owns 191,316 shares of the bank's stock valued at $4,025,000 after purchasing an additional 67,889 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Civista Bancshares by 271.7% in the 4th quarter. Prudential Financial Inc. now owns 53,355 shares of the bank's stock worth $1,123,000 after buying an additional 39,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Civista Bancshares by 120.7% in the 4th quarter. JPMorgan Chase & Co. now owns 56,144 shares of the bank's stock valued at $1,181,000 after purchasing an additional 30,706 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CIVB has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on Civista Bancshares from $25.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday. DA Davidson set a $27.00 price objective on Civista Bancshares in a report on Friday, January 31st. Stephens raised their price target on Civista Bancshares from $24.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, StockNews.com raised shares of Civista Bancshares from a "hold" rating to a "buy" rating in a report on Saturday, February 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.20.

Civista Bancshares Stock Up 1.0 %

Shares of CIVB stock traded up $0.21 during mid-day trading on Friday, reaching $21.06. 23,647 shares of the company's stock traded hands, compared to its average volume of 47,984. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. The company's 50-day moving average price is $19.79 and its 200-day moving average price is $20.60. The company has a market cap of $325.99 million, a P/E ratio of 10.43 and a beta of 0.67. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $23.70.

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

Civista Bancshares Announces Dividend

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 paid a $0.17 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.23%. Civista Bancshares's dividend payout ratio (DPR) is currently 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.