Los Angeles Capital Management LLC Sells 14,300 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Los Angeles Capital Management LLC decreased its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 42.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,451 shares of the bank’s stock after selling 14,300 shares during the quarter. Los Angeles Capital Management LLC owned about 0.12% of Civista Bancshares worth $299,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Civista Bancshares by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock worth $11,164,000 after acquiring an additional 5,400 shares during the last quarter. Mendon Capital Advisors Corp bought a new position in Civista Bancshares during the 4th quarter worth approximately $3,688,000. Victory Capital Management Inc. raised its holdings in Civista Bancshares by 9.7% during the 4th quarter. Victory Capital Management Inc. now owns 47,700 shares of the bank’s stock worth $880,000 after buying an additional 4,212 shares during the period. Assenagon Asset Management S.A. raised its holdings in Civista Bancshares by 60.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,890 shares of the bank’s stock worth $643,000 after buying an additional 13,115 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Civista Bancshares by 41.1% during the 4th quarter. BNP Paribas Financial Markets now owns 18,660 shares of the bank’s stock worth $344,000 after buying an additional 5,440 shares during the period. Institutional investors own 52.10% of the company’s stock.

Civista Bancshares Price Performance

NASDAQ CIVB opened at $14.46 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Civista Bancshares, Inc. has a 12-month low of $13.60 and a 12-month high of $19.80. The company has a market capitalization of $227.46 million, a PE ratio of 6.21 and a beta of 0.81. The firm’s 50 day moving average is $14.43 and its 200-day moving average is $15.61.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Civista Bancshares had a net margin of 16.38% and a return on equity of 10.23%. The business had revenue of $58.63 million during the quarter, compared to analyst estimates of $38.01 million. During the same quarter last year, the business earned $0.82 earnings per share. Equities research analysts anticipate that Civista Bancshares, Inc. will post 1.78 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 7th were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.43%. Civista Bancshares’s dividend payout ratio is presently 27.47%.

Analyst Upgrades and Downgrades

Several analysts have commented on CIVB shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 target price (down from $21.00) on shares of Civista Bancshares in a report on Wednesday, May 1st. TheStreet downgraded shares of Civista Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. Finally, Hovde Group started coverage on shares of Civista Bancshares in a report on Monday, April 1st. They set a “market perform” rating and a $16.00 target price on the stock. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Civista Bancshares currently has a consensus rating of “Hold” and an average price target of $17.75.

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.