12,916 Shares in Civista Bancshares, Inc. (NASDAQ:CIVB) Bought by Summit Global Investments

Summit Global Investments acquired a new stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,916 shares of the bank’s stock, valued at approximately $272,000.

A number of other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Civista Bancshares by 40.7% during the third quarter. Barclays PLC now owns 51,521 shares of the bank’s stock valued at $917,000 after purchasing an additional 14,909 shares in the last quarter. State Street Corp lifted its position in shares of Civista Bancshares by 1.1% during the 3rd quarter. State Street Corp now owns 298,557 shares of the bank’s stock worth $5,320,000 after buying an additional 3,112 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Civista Bancshares by 90.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 25,438 shares of the bank’s stock worth $453,000 after buying an additional 12,059 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Civista Bancshares by 2.8% in the third quarter. Geode Capital Management LLC now owns 348,352 shares of the bank’s stock valued at $6,208,000 after acquiring an additional 9,501 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Civista Bancshares by 5.0% during the fourth quarter. Empowered Funds LLC now owns 52,617 shares of the bank’s stock valued at $1,107,000 after acquiring an additional 2,482 shares during the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CIVB. DA Davidson set a $27.00 price objective on Civista Bancshares in a research note on Friday, January 31st. Stephens restated an “equal weight” rating and set a $24.00 price target on shares of Civista Bancshares in a research report on Friday, January 31st. StockNews.com upgraded shares of Civista Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

Civista Bancshares Trading Up 1.5 %

Shares of CIVB opened at $19.83 on Tuesday. Civista Bancshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $23.70. The business has a 50-day moving average of $20.64 and a 200 day moving average of $20.27. The firm has a market cap of $306.95 million, a P/E ratio of 9.82 and a beta of 0.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Thursday, January 30th. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.10. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. As a group, research analysts forecast that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.43%. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.16. Civista Bancshares’s dividend payout ratio is currently 33.66%.

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.