Summit Global Investments purchased a new position in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,916 shares of the bank's stock, valued at approximately $272,000. Summit Global Investments owned about 0.08% of Civista Bancshares as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of CIVB. Geode Capital Management LLC lifted its holdings in Civista Bancshares by 2.8% in the third quarter. Geode Capital Management LLC now owns 348,352 shares of the bank's stock worth $6,208,000 after acquiring an additional 9,501 shares during the last quarter. State Street Corp grew its stake in Civista Bancshares by 1.1% during the 3rd quarter. State Street Corp now owns 298,557 shares of the bank's stock worth $5,320,000 after buying an additional 3,112 shares during the last quarter. Empowered Funds LLC lifted its stake in Civista Bancshares by 5.0% in the fourth quarter. Empowered Funds LLC now owns 52,617 shares of the bank's stock valued at $1,107,000 after buying an additional 2,482 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Civista Bancshares by 1.1% during the fourth quarter. Inspire Investing LLC now owns 52,528 shares of the bank's stock valued at $1,105,000 after acquiring an additional 554 shares during the period. Finally, Barclays PLC grew its position in shares of Civista Bancshares by 40.7% during the third quarter. Barclays PLC now owns 51,521 shares of the bank's stock worth $917,000 after acquiring an additional 14,909 shares during the last quarter. 52.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on CIVB shares. Stephens reissued an "equal weight" rating and set a $24.00 target price on shares of Civista Bancshares in a research note on Friday, January 31st. StockNews.com upgraded Civista Bancshares from a "hold" rating to a "buy" rating in a research report on Saturday, February 22nd. DA Davidson set a $27.00 target price on Civista Bancshares in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their target price on Civista Bancshares from $22.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.40.
Get Our Latest Report on CIVB
Civista Bancshares Price Performance
Shares of Civista Bancshares stock traded down $0.45 on Friday, hitting $19.47. The company had a trading volume of 33,529 shares, compared to its average volume of 46,635. Civista Bancshares, Inc. has a 52 week low of $13.60 and a 52 week high of $23.70. The company has a market cap of $301.38 million, a PE ratio of 9.64 and a beta of 0.79. The business has a 50-day simple moving average of $20.60 and a 200-day simple moving average of $20.28. 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 (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.10. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. Research analysts expect that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.
Civista Bancshares Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.49%. This is an increase from Civista Bancshares's previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, February 4th. Civista Bancshares's dividend payout ratio is presently 33.66%.
Civista Bancshares Profile
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Free Report)
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.
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