Civista Bancshares, Inc. (NASDAQ:CIVB) Stock Holdings Increased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,940 shares of the bank’s stock after buying an additional 589 shares during the period. Los Angeles Capital Management LLC owned about 0.09% of Civista Bancshares worth $248,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Civista Bancshares during the first quarter valued at $63,000. SG Americas Securities LLC bought a new stake in shares of Civista Bancshares in the 3rd quarter worth approximately $102,000. Princeton Capital Management LLC acquired a new position in Civista Bancshares during the 2nd quarter valued at approximately $189,000. Allspring Global Investments Holdings LLC grew its stake in Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after buying an additional 12,624 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Civista Bancshares by 24.7% in the first quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock valued at $283,000 after buying an additional 3,672 shares during the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Stock Performance

Shares of NASDAQ CIVB opened at $22.32 on Tuesday. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year high of $23.69. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.01 and a current ratio of 0.95. The stock has a fifty day moving average price of $18.77 and a two-hundred day moving average price of $16.67. The firm has a market cap of $351.25 million, a P/E ratio of 11.10 and a beta of 0.78.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. The firm had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. During the same period in the previous year, the company earned $0.66 earnings per share. Research analysts forecast that Civista Bancshares, Inc. will post 1.91 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Tuesday, November 5th. Civista Bancshares’s dividend payout ratio is presently 31.84%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stephens increased their price objective on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. 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 report on Tuesday, July 30th. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Wednesday, October 30th. Finally, Piper Sandler increased their price target on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

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.