Wellington Management Group LLP Decreases Stock Position in Civista Bancshares, Inc. (NASDAQ:CIVB)

Wellington Management Group LLP cut its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 53.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,307 shares of the bank's stock after selling 189,900 shares during the quarter. Wellington Management Group LLP owned approximately 1.06% of Civista Bancshares worth $3,520,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CIVB. Arrowstreet Capital Limited Partnership grew its stake in Civista Bancshares by 210.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank's stock worth $3,152,000 after acquiring an additional 101,610 shares during the period. JPMorgan Chase & Co. increased its stake in Civista Bancshares by 120.7% in the fourth 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 last quarter. Segall Bryant & Hamill LLC purchased a new position in Civista Bancshares during the fourth quarter worth about $1,774,000. Prudential Financial Inc. boosted its stake in 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, Vanguard Group Inc. boosted its stake in Civista Bancshares by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 857,968 shares of the bank's stock worth $18,052,000 after buying an additional 12,746 shares during the last quarter. Institutional investors and hedge funds own 52.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Civista Bancshares from a "hold" rating to a "buy" rating in a research report on Saturday, February 22nd. DA Davidson set a $27.00 price objective on Civista Bancshares in a report on Friday, January 31st. Finally, Stephens reiterated an "equal weight" rating and issued a $24.00 target price on shares of Civista Bancshares in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Civista Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $23.40.

Civista Bancshares Trading Up 1.1 %

CIVB traded up $0.22 during trading on Thursday, hitting $19.71. 10,232 shares of the company's stock were exchanged, compared to its average volume of 47,529. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year high of $23.70. The stock has a 50 day moving average price of $19.93 and a 200 day moving average price of $20.46. The firm has a market cap of $305.09 million, a P/E ratio of 9.78 and a beta of 0.67. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.10. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. As a group, analysts expect that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Investors of record on Tuesday, April 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.45%. Civista Bancshares's payout ratio 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.