State Street Corp Purchases 3,112 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

State Street Corp increased its position in Civista Bancshares, Inc. (NASDAQ:CIVB) by 1.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 298,557 shares of the bank’s stock after buying an additional 3,112 shares during the quarter. State Street Corp’s holdings in Civista Bancshares were worth $5,320,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Civista Bancshares in the third quarter valued at about $102,000. Princeton Capital Management LLC bought a new stake in Civista Bancshares during the 2nd quarter valued at approximately $189,000. Allspring Global Investments Holdings LLC lifted its holdings in Civista Bancshares by 10,347.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after purchasing an additional 12,624 shares in the last quarter. Los Angeles Capital Management LLC lifted 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 purchasing an additional 589 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Civista Bancshares by 30.9% in the 2nd quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock worth $318,000 after purchasing an additional 4,985 shares during the period. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CIVB shares. Keefe, Bruyette & Woods upped their target price on shares of Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stephens increased their price objective on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, 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 report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Civista Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Civista Bancshares Price Performance

Civista Bancshares stock opened at $21.11 on Monday. Civista Bancshares, Inc. has a 52-week low of $13.60 and a 52-week 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 firm’s fifty day moving average is $21.60 and its 200 day moving average is $18.33. The company has a market cap of $332.21 million, a price-to-earnings ratio of 10.50 and a beta of 0.81.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. The firm had revenue of $62.43 million for the quarter, compared to analysts’ expectations 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 company earned $0.66 EPS. Sell-side analysts forecast that Civista Bancshares, Inc. will post 1.91 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Tuesday, November 5th. Civista Bancshares’s payout ratio is 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.