Assenagon Asset Management S.A. Acquires 35,968 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Assenagon Asset Management S.A. boosted its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 130.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,456 shares of the bank's stock after purchasing an additional 35,968 shares during the quarter. Assenagon Asset Management S.A. owned about 0.40% of Civista Bancshares worth $1,131,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CIVB. BNP Paribas Financial Markets boosted its position in Civista Bancshares by 53.3% during the first quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank's stock worth $440,000 after purchasing an additional 9,953 shares during the period. Empowered Funds LLC boosted its position in shares of Civista Bancshares by 8.1% in the first quarter. Empowered Funds LLC now owns 44,169 shares of the bank's stock valued at $679,000 after acquiring an additional 3,325 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Civista Bancshares by 11.3% in the first quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank's stock valued at $370,000 after acquiring an additional 2,453 shares during the period. Vanguard Group Inc. boosted its position in shares of Civista Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank's stock valued at $12,501,000 after acquiring an additional 8,797 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of Civista Bancshares in the first quarter valued at approximately $63,000. Institutional investors own 52.10% of the company's stock.

Civista Bancshares Stock Performance

CIVB traded down $0.01 during trading on Friday, reaching $20.36. 36,003 shares of the company's stock were exchanged, compared to its average volume of 47,675. Civista Bancshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $20.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.64. The business has a 50 day moving average price of $17.69 and a 200 day moving average price of $16.14. The company has a market capitalization of $320.47 million, a P/E ratio of 10.13 and a beta of 0.78.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings results 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. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.46%. The firm had revenue of $62.43 million for the quarter, compared to the consensus estimate of $37.60 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. As a group, analysts predict that Civista Bancshares, Inc. will post 1.8 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.64 annualized dividend and a dividend yield of 3.14%. Civista Bancshares's dividend payout ratio is presently 31.84%.

Insider Activity

In other news, Director Julie A. Mattlin bought 2,000 shares of Civista Bancshares stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the purchase, the director now owns 12,442 shares of the company's stock, valued at approximately $194,095.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on CIVB. Hovde Group raised Civista Bancshares from a "market perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Wednesday. Stephens increased their price objective on Civista Bancshares from $18.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday. Piper Sandler increased their price objective on Civista Bancshares from $16.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $19.00 price objective (up from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.25.

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.