Ritholtz Wealth Management Decreases Holdings in Civista Bancshares, Inc. $CIVB

Ritholtz Wealth Management lessened its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 34.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 136,480 shares of the bank’s stock after selling 73,136 shares during the quarter. Ritholtz Wealth Management’s holdings in Civista Bancshares were worth $3,033,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Civista Bancshares by 5.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock worth $179,000 after buying an additional 485 shares during the last quarter. Barclays PLC increased its holdings in Civista Bancshares by 0.9% during the third quarter. Barclays PLC now owns 54,603 shares of the bank’s stock worth $1,109,000 after buying an additional 498 shares during the last quarter. Federated Hermes Inc. boosted its position in Civista Bancshares by 306.6% during the second 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 period. Caldwell Trust Co bought a new position in Civista Bancshares during the second quarter worth about $32,000. Finally, Rhumbline Advisers boosted its position in Civista Bancshares by 6.9% during the second 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 period. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. DA Davidson reiterated a “buy” rating and set a $28.00 target price on shares of Civista Bancshares in a research report on Friday, January 30th. Zacks Research upgraded shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Hovde Group increased their target price on shares of Civista Bancshares from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Finally, Piper Sandler assumed coverage on shares of Civista Bancshares in a research report on Thursday, April 2nd. They set a “neutral” rating and a $25.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.20.

Civista Bancshares Price Performance

CIVB stock opened at $24.05 on Monday. The firm has a 50 day moving average of $23.35 and a 200-day moving average of $22.61. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. Civista Bancshares, Inc. has a 12 month low of $17.47 and a 12 month high of $25.59. The firm has a market capitalization of $593.07 million, a P/E ratio of 9.04 and a beta of 0.64.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. Civista Bancshares had a net margin of 18.12% and a return on equity of 10.48%. The company had revenue of $46.34 million during the quarter, compared to analyst estimates of $45.43 million. As a group, sell-side analysts predict that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 10th. Civista Bancshares’s dividend payout ratio (DPR) is 27.07%.

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.