Wellington Management Group LLP cut its position in Civista Bancshares, Inc. (NASDAQ:CIVB – Free Report) by 34.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 357,207 shares of the bank’s stock after selling 187,936 shares during the quarter. Wellington Management Group LLP owned approximately 2.27% of Civista Bancshares worth $6,365,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC grew its position in Civista Bancshares by 4.4% during 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 during the last quarter. Rhumbline Advisers grew its holdings in shares of Civista Bancshares by 2.6% during the second quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after buying an additional 619 shares during the last quarter. Empowered Funds LLC increased its position in Civista Bancshares by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 50,135 shares of the bank’s stock valued at $893,000 after acquiring an additional 2,546 shares during the period. Victory Capital Management Inc. raised its stake in Civista Bancshares by 5.4% during the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock valued at $800,000 after acquiring an additional 2,650 shares during the last quarter. Finally, State Street Corp lifted its position in 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 acquiring an additional 3,112 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.
Civista Bancshares Trading Up 1.6 %
Shares of CIVB stock opened at $22.80 on Tuesday. The stock has a market cap of $358.80 million, a P/E ratio of 11.34 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $23.69. The business has a fifty day simple moving average of $20.97 and a 200-day simple moving average of $17.87.
Civista Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Tuesday, November 5th. Civista Bancshares’s payout ratio is currently 31.84%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on shares of Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens boosted their target price on 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.
Get Our Latest Stock Analysis on CIVB
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.
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