Royce & Associates LP Purchases Shares of 274,958 Civista Bancshares, Inc. $CIVB

Royce & Associates LP acquired a new position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 274,958 shares of the bank’s stock, valued at approximately $5,584,000.

Other hedge funds have also modified their holdings of the company. Endeavour Capital Advisors Inc. acquired a new position in Civista Bancshares during the third quarter worth approximately $11,134,000. Vanguard Group Inc. grew its stake in shares of Civista Bancshares by 19.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock valued at $20,752,000 after buying an additional 166,049 shares during the period. Strategic Value Bank Partners LLC acquired a new stake in shares of Civista Bancshares during the 3rd quarter worth $2,031,000. EJF Capital LLC purchased a new position in shares of Civista Bancshares in the 3rd quarter worth $1,763,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Civista Bancshares in the 3rd quarter worth $1,603,000. 52.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CIVB shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Hovde Group boosted their target price on Civista Bancshares from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Zacks Research raised shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Keefe, Bruyette & Woods lifted their price target on shares of Civista Bancshares from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, DA Davidson reaffirmed a “buy” rating and set a $28.00 price target on shares of Civista Bancshares in a research report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Civista Bancshares presently has a consensus rating of “Hold” and an average price target of $26.00.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $23.43 on Thursday. The company’s fifty day moving average price is $23.41 and its two-hundred day moving average price is $22.24. Civista Bancshares, Inc. has a 12 month low of $17.47 and a 12 month high of $25.59. The firm has a market capitalization of $452.50 million, a P/E ratio of 8.81 and a beta of 0.68. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.96 and a quick ratio of 0.96.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. The business had revenue of $46.34 million for the quarter, compared to analysts’ expectations of $45.43 million. Civista Bancshares had a net margin of 18.12% and a return on equity of 11.14%. On average, research analysts anticipate that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were paid a dividend of $0.18 per share. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, February 10th. Civista Bancshares’s dividend payout ratio (DPR) is 27.07%.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.