Victory Capital Management Inc. Lowers Stock Holdings in Civista Bancshares, Inc. (NASDAQ:CIVB)

Victory Capital Management Inc. trimmed its holdings in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 48,300 shares of the bank’s stock after selling 3,350 shares during the period. Victory Capital Management Inc.’s holdings in Civista Bancshares were worth $861,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CIVB. Los Angeles Capital Management LLC raised its holdings in Civista Bancshares by 4.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock worth $248,000 after acquiring an additional 589 shares during the last quarter. Rhumbline Advisers raised its holdings in Civista Bancshares by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after acquiring an additional 619 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Civista Bancshares by 11.3% in the 1st quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank’s stock worth $370,000 after acquiring an additional 2,453 shares during the last quarter. Quadrature Capital Ltd raised its holdings in Civista Bancshares by 24.7% in the 1st quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock worth $283,000 after acquiring an additional 3,672 shares during the last quarter. Finally, Ritholtz Wealth Management raised its holdings in Civista Bancshares by 4.3% in the 2nd quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock worth $1,416,000 after acquiring an additional 3,800 shares during the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CIVB. Piper Sandler boosted their target price on shares of Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Stephens boosted their target price on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Civista Bancshares currently has an average rating of “Moderate Buy” and an average price target of $20.25.

Civista Bancshares Trading Up 0.0 %

Shares of CIVB stock opened at $22.81 on Thursday. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year high of $23.69. The firm has a fifty day moving average price of $19.67 and a 200-day moving average price of $17.11. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $359.03 million, a price-to-earnings ratio of 11.35 and a beta of 0.78.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The firm had revenue of $62.43 million during the quarter, compared to the consensus estimate of $37.60 million. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities analysts predict that Civista Bancshares, Inc. will post 1.91 earnings per share for the current year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Tuesday, November 5th. Civista Bancshares’s dividend payout ratio is currently 31.84%.

About Civista Bancshares

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.