Assenagon Asset Management S.A. Has $426,000 Holdings in Civista Bancshares, Inc. (NASDAQ:CIVB)

Assenagon Asset Management S.A. cut its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 42.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,488 shares of the bank's stock after selling 19,933 shares during the period. Assenagon Asset Management S.A. owned about 0.17% of Civista Bancshares worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Civista Bancshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank's stock valued at $12,501,000 after buying an additional 8,797 shares during the period. Wellington Management Group LLP raised its position in shares of Civista Bancshares by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 605,421 shares of the bank's stock worth $11,164,000 after acquiring an additional 5,400 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Civista Bancshares by 9.7% during the 4th quarter. Victory Capital Management Inc. now owns 47,700 shares of the bank's stock worth $880,000 after purchasing an additional 4,212 shares during the last quarter. Empowered Funds LLC boosted its position in Civista Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 44,169 shares of the bank's stock valued at $679,000 after purchasing an additional 3,325 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Civista Bancshares by 53.3% in the first quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank's stock valued at $440,000 after purchasing an additional 9,953 shares during the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

Civista Bancshares Stock Up 3.6 %

NASDAQ CIVB traded up $0.59 during trading on Friday, hitting $16.94. The company's stock had a trading volume of 62,782 shares, compared to its average volume of 36,259. Civista Bancshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $19.00. The company has a market cap of $266.42 million, a PE ratio of 7.27 and a beta of 0.82. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.97. The business's 50 day simple moving average is $15.97 and its 200-day simple moving average is $15.20.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its earnings results on Monday, July 29th. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.05. The company had revenue of $61.14 million during the quarter, compared to analysts' expectations of $36.57 million. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.34%. During the same period last year, the business earned $0.64 EPS. On average, equities analysts anticipate that Civista Bancshares, Inc. will post 1.75 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Tuesday, August 6th. Civista Bancshares's payout ratio is 27.47%.

Insider Buying and Selling

In other news, Director Julie A. Mattlin bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $15.60 per share, with a total value of $31,200.00. Following the completion of the acquisition, the director now directly owns 12,442 shares of the company's stock, valued at approximately $194,095.20. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 3.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CIVB has been the subject of several analyst reports. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $19.00 price target (up from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Piper Sandler boosted their price objective on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Civista Bancshares has a consensus rating of "Hold" and a consensus target price of $18.25.

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.