Civista Bancshares, Inc. (NASDAQ:CIVB) Shares Sold by Fourthstone LLC

Fourthstone LLC cut its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 49.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,650 shares of the bank’s stock after selling 24,463 shares during the quarter. Fourthstone LLC owned 0.16% of Civista Bancshares worth $439,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Civista Bancshares in the 3rd quarter valued at $102,000. Princeton Capital Management LLC acquired a new position in shares of Civista Bancshares in the second quarter worth about $189,000. Allspring Global Investments Holdings LLC increased its position in shares of Civista Bancshares by 10,347.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after acquiring an additional 12,624 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Civista Bancshares by 4.4% in the third 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 in the last quarter. Finally, Quadrature Capital Ltd raised its holdings in shares of Civista Bancshares by 24.7% during the first quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock valued at $283,000 after acquiring an additional 3,672 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Civista Bancshares Stock Up 0.0 %

CIVB stock traded up $0.01 during midday trading on Thursday, reaching $22.81. The company had a trading volume of 31,300 shares, compared to its average volume of 41,731. The company has a 50 day moving average of $19.67 and a two-hundred day moving average of $17.11. The company has a market capitalization of $359.03 million, a P/E ratio of 11.35 and a beta of 0.78. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year high of $23.69. 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) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. The business had revenue of $62.43 million during the quarter, compared to analyst estimates of $37.60 million. During the same period last year, the company earned $0.66 earnings per share. On average, equities research analysts expect that Civista Bancshares, Inc. will post 1.91 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

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

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.