JPMorgan Chase & Co. Has $453,000 Stock Holdings in Civista Bancshares, Inc. (NASDAQ:CIVB)

JPMorgan Chase & Co. increased its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 90.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,438 shares of the bank’s stock after buying an additional 12,059 shares during the period. JPMorgan Chase & Co.’s holdings in Civista Bancshares were worth $453,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new position in shares of Civista Bancshares in the third quarter worth about $926,000. Assenagon Asset Management S.A. raised its position in Civista Bancshares by 130.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock worth $1,131,000 after purchasing an additional 35,968 shares during the last quarter. AQR Capital Management LLC acquired a new position in Civista Bancshares during the 2nd quarter worth $323,000. Barclays PLC boosted its position in Civista Bancshares by 40.7% in the 3rd quarter. Barclays PLC now owns 51,521 shares of the bank’s stock valued at $917,000 after buying an additional 14,909 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Civista Bancshares by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 348,352 shares of the bank’s stock valued at $6,208,000 after buying an additional 9,501 shares during the period. Institutional investors own 52.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CIVB has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens lifted their target price on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, 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 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 stock. Based on data from MarketBeat, Civista Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

Civista Bancshares Stock Down 0.7 %

Civista Bancshares stock opened at $21.46 on Wednesday. Civista Bancshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week 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 firm has a market capitalization of $337.78 million, a price-to-earnings ratio of 10.68 and a beta of 0.82. The company’s 50 day simple moving average is $21.55 and its 200 day simple moving average is $19.22.

Civista Bancshares (NASDAQ:CIVB) last announced 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. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The company had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $37.60 million. During the same period last year, the firm posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Civista Bancshares, Inc. will post 1.92 EPS for the current year.

Civista Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.17%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, February 4th. Civista Bancshares’s payout ratio is presently 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.