RMB Capital Management LLC Lowers Stock Position in Civista Bancshares Inc (NASDAQ:CIVB)

RMB Capital Management LLC lessened its stake in shares of Civista Bancshares Inc (NASDAQ:CIVB) by 17.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 669,915 shares of the bank’s stock after selling 139,595 shares during the quarter. RMB Capital Management LLC owned 4.29% of Civista Bancshares worth $15,040,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of Civista Bancshares by 23.5% in the second quarter. JPMorgan Chase & Co. now owns 4,213 shares of the bank’s stock valued at $92,000 after purchasing an additional 803 shares during the period. Bank of Montreal Can boosted its stake in shares of Civista Bancshares by 96.7% in the second quarter. Bank of Montreal Can now owns 2,760 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,357 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Civista Bancshares by 1.7% in the second quarter. Russell Investments Group Ltd. now owns 109,930 shares of the bank’s stock valued at $2,466,000 after purchasing an additional 1,873 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Civista Bancshares by 893.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,952 shares of the bank’s stock valued at $64,000 after purchasing an additional 2,655 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Civista Bancshares by 9.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 35,690 shares of the bank’s stock valued at $802,000 after purchasing an additional 3,094 shares during the period. 54.66% of the stock is owned by institutional investors.

Several research firms have recently commented on CIVB. BidaskClub lowered shares of Civista Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, August 23rd. Boenning Scattergood reissued a “hold” rating on shares of Civista Bancshares in a research note on Friday, July 26th. DA Davidson raised shares of Civista Bancshares from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods lowered shares of Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $26.00 price objective for the company. in a research note on Sunday, July 7th. Finally, ValuEngine lowered shares of Civista Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.33.

NASDAQ:CIVB traded up $0.36 during mid-day trading on Friday, hitting $22.32. The stock had a trading volume of 1,907 shares, compared to its average volume of 31,426. The stock has a 50-day simple moving average of $21.05 and a two-hundred day simple moving average of $21.61. The company has a market capitalization of $330.37 million, a PE ratio of 12.06 and a beta of 0.79. Civista Bancshares Inc has a twelve month low of $15.55 and a twelve month high of $25.44. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.65.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Friday, July 26th. The bank reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The firm had revenue of $26.85 million for the quarter, compared to analysts’ expectations of $26.62 million. Civista Bancshares had a net margin of 20.31% and a return on equity of 10.51%. Sell-side analysts predict that Civista Bancshares Inc will post 2 EPS for the current fiscal year.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.

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Institutional Ownership by Quarter for Civista Bancshares (NASDAQ:CIVB)

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