BlackRock Inc. raised its holdings in shares of Civista Bancshares Inc (NASDAQ:CIVB) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 540,399 shares of the bank’s stock after acquiring an additional 59,899 shares during the period. BlackRock Inc. owned about 5.02% of Civista Bancshares worth $13,099,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CIVB. Rhumbline Advisers bought a new position in Civista Bancshares during the second quarter valued at approximately $239,000. Mackay Shields LLC bought a new position in Civista Bancshares during the second quarter valued at approximately $305,000. Schwab Charles Investment Management Inc. grew its position in Civista Bancshares by 15.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 19,596 shares of the bank’s stock valued at $476,000 after acquiring an additional 2,596 shares during the last quarter. First Trust Advisors LP grew its position in Civista Bancshares by 20.6% during the second quarter. First Trust Advisors LP now owns 24,734 shares of the bank’s stock valued at $600,000 after acquiring an additional 4,220 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Civista Bancshares by 165.0% during the second quarter. Acadian Asset Management LLC now owns 50,233 shares of the bank’s stock valued at $1,218,000 after acquiring an additional 31,277 shares during the last quarter. Institutional investors and hedge funds own 57.31% of the company’s stock.
Shares of Civista Bancshares stock opened at $23.16 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.05. Civista Bancshares Inc has a 52-week low of $20.41 and a 52-week high of $25.88. The company has a market capitalization of $247.44 million, a PE ratio of 17.41, a PEG ratio of 1.69 and a beta of 0.42.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Tuesday, October 23rd will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, October 22nd. Civista Bancshares’s dividend payout ratio is 27.07%.
CIVB has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Wednesday, September 19th. BidaskClub cut shares of Civista Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Boenning Scattergood reiterated a “buy” rating on shares of Civista Bancshares in a research report on Monday, July 30th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $31.00 price target on shares of Civista Bancshares in a research report on Monday, July 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Civista Bancshares presently has an average rating of “Hold” and a consensus target price of $26.50.
Civista Bancshares 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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