Civista Bancshares, Inc. $CIVB Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,259,065 shares of the bank’s stock after selling 78,523 shares during the quarter. Wellington Management Group LLP owned approximately 6.06% of Civista Bancshares worth $35,531,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CIVB. Alliancebernstein L.P. raised its stake in shares of Civista Bancshares by 2,904.8% during the 3rd quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank’s stock worth $7,220,000 after buying an additional 343,642 shares during the period. Vanguard Group Inc. grew its stake in Civista Bancshares by 19.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock valued at $20,752,000 after acquiring an additional 166,049 shares during the period. Royce & Associates LP grew its stake in Civista Bancshares by 42.9% in the 4th quarter. Royce & Associates LP now owns 392,952 shares of the bank’s stock valued at $8,731,000 after acquiring an additional 117,994 shares during the period. UBS Group AG increased its holdings in Civista Bancshares by 126.9% in the 3rd quarter. UBS Group AG now owns 210,739 shares of the bank’s stock worth $4,280,000 after acquiring an additional 117,855 shares in the last quarter. Finally, Mendon Capital Advisors Corp lifted its holdings in Civista Bancshares by 38.3% during the first quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock valued at $7,104,000 after purchasing an additional 86,390 shares in the last quarter. 52.10% of the stock is owned by institutional investors and hedge funds.

Civista Bancshares Price Performance

Civista Bancshares stock opened at $27.77 on Friday. The company has a fifty day simple moving average of $28.19 and a 200-day simple moving average of $25.79. The firm has a market capitalization of $577.34 million, a price-to-earnings ratio of 10.29 and a beta of 0.65. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.41. Civista Bancshares, Inc. has a 52-week low of $19.82 and a 52-week high of $29.97.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $47.60 million for the quarter, compared to the consensus estimate of $48.08 million. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%. On average, equities analysts anticipate that Civista Bancshares, Inc. will post 2.83 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 4th. Civista Bancshares’s dividend payout ratio (DPR) is 26.67%.

Analyst Ratings Changes

A number of analysts have recently commented on CIVB shares. Wall Street Zen cut shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research lowered shares of Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. DA Davidson lifted their price objective on Civista Bancshares from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Piper Sandler boosted their price objective on Civista Bancshares from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 target price (up from $29.00) on shares of Civista Bancshares in a report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.25.

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.