Civista Bancshares, Inc. (NASDAQ:CIVB) Stake Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 464,389 shares of the bank’s stock after selling 8,626 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Civista Bancshares were worth $8,275,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Civista Bancshares in the 3rd quarter valued at about $102,000. Princeton Capital Management LLC acquired a new stake in Civista Bancshares during the second quarter valued at approximately $189,000. Allspring Global Investments Holdings LLC lifted its holdings in Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after buying an additional 12,624 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of 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 in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of 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 acquiring an additional 4,985 shares in the last quarter. 52.10% of the stock is owned by institutional investors and hedge funds.

Civista Bancshares Price Performance

Shares of CIVB opened at $22.75 on Wednesday. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $23.69. 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 stock has a fifty day moving average price of $20.06 and a 200 day moving average price of $17.36. The company has a market cap of $358.09 million, a P/E ratio of 11.32 and a beta of 0.81.

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

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.81%. Civista Bancshares’s dividend payout ratio (DPR) is presently 31.84%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CIVB shares. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Wednesday, October 30th. Stephens raised their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Civista Bancshares 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.