Knights of Columbus Asset Advisors LLC Makes New Investment in Civista Bancshares, Inc. $CIVB

Knights of Columbus Asset Advisors LLC acquired a new position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,682 shares of the bank’s stock, valued at approximately $1,637,000. Knights of Columbus Asset Advisors LLC owned about 0.38% of Civista Bancshares at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Civista Bancshares by 5.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock valued at $179,000 after acquiring an additional 485 shares during the last quarter. Barclays PLC grew its stake in Civista Bancshares by 0.9% in the third quarter. Barclays PLC now owns 54,603 shares of the bank’s stock valued at $1,109,000 after purchasing an additional 498 shares in the last quarter. CWM LLC grew its stake in Civista Bancshares by 12.1% in the fourth quarter. CWM LLC now owns 8,249 shares of the bank’s stock valued at $183,000 after purchasing an additional 893 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Civista Bancshares by 306.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Civista Bancshares by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 23,867 shares of the bank’s stock worth $554,000 after purchasing an additional 1,532 shares during the last quarter. Institutional investors own 52.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CIVB shares. Wall Street Zen raised Civista Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Piper Sandler upped their price target on shares of Civista Bancshares from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. DA Davidson reiterated a “buy” rating and issued a $28.00 price target on shares of Civista Bancshares in a research note on Friday, January 30th. Keefe, Bruyette & Woods lifted their price objective 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, Zacks Research upgraded shares of Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.60.

Civista Bancshares Stock Performance

CIVB opened at $25.77 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. Civista Bancshares, Inc. has a 12-month low of $18.94 and a 12-month high of $28.31. The business has a 50 day moving average of $24.09 and a 200-day moving average of $23.46. The stock has a market cap of $535.50 million, a price-to-earnings ratio of 9.47 and a beta of 0.67.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%.The business had revenue of $47.25 million for the quarter, compared to analyst estimates of $45.64 million. On average, equities research analysts expect that Civista Bancshares, Inc. will post 2.84 earnings per share for the current year.

Civista Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.8%. Civista Bancshares’s dividend payout ratio is presently 26.47%.

About Civista Bancshares

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.