Civista Bancshares, Inc. (NASDAQ:CIVB) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Civista Bancshares, Inc. (NASDAQ:CIVB) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 348,352 shares of the bank’s stock after purchasing an additional 9,501 shares during the quarter. Geode Capital Management LLC owned 2.21% of Civista Bancshares worth $6,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its position in shares of Civista Bancshares by 4.4% during the third quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock worth $248,000 after buying an additional 589 shares in the last quarter. Rhumbline Advisers boosted its stake in Civista Bancshares by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock valued at $375,000 after acquiring an additional 619 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Civista Bancshares during the 3rd quarter worth $45,000. Empowered Funds LLC increased its position in shares of Civista Bancshares by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 50,135 shares of the bank’s stock worth $893,000 after purchasing an additional 2,546 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Civista Bancshares by 5.4% in the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock valued at $800,000 after purchasing an additional 2,650 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Stock Performance

Shares of Civista Bancshares stock opened at $20.80 on Friday. The stock has a market cap of $327.33 million, a PE ratio of 10.35 and a beta of 0.81. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $23.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $21.88 and a 200-day simple moving average of $18.51.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The business had revenue of $62.43 million for the quarter, compared to the consensus estimate of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. During the same period in the prior year, the business posted $0.66 earnings per share. On average, sell-side analysts anticipate that Civista Bancshares, Inc. will post 1.91 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, November 5th. Civista Bancshares’s dividend payout ratio (DPR) is presently 31.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CIVB shares. Keefe, Bruyette & Woods boosted their price target on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. 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 raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Civista Bancshares has an average rating of “Moderate Buy” and an average target price of $21.75.

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.