Summit Global Investments Acquires New Holdings in Civista Bancshares, Inc. (NASDAQ:CIVB)

Summit Global Investments bought a new position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,916 shares of the bank’s stock, valued at approximately $272,000. Summit Global Investments owned about 0.08% of Civista Bancshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Civista Bancshares by 38.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,095 shares of the bank’s stock worth $554,000 after purchasing an additional 8,597 shares during the last quarter. State Street Corp lifted its holdings in Civista Bancshares by 1.1% during the 3rd quarter. State Street Corp now owns 298,557 shares of the bank’s stock worth $5,320,000 after buying an additional 3,112 shares during the period. Jane Street Group LLC grew its position in shares of Civista Bancshares by 24.2% in the 3rd quarter. Jane Street Group LLC now owns 20,215 shares of the bank’s stock valued at $360,000 after buying an additional 3,934 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Civista Bancshares in the third quarter valued at about $45,000. Finally, Barclays PLC raised its position in shares of Civista Bancshares by 40.7% during the third quarter. Barclays PLC now owns 51,521 shares of the bank’s stock worth $917,000 after acquiring an additional 14,909 shares during the last quarter. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Civista Bancshares Stock Up 1.5 %

Shares of NASDAQ CIVB opened at $19.83 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm has a market cap of $306.95 million, a PE ratio of 9.82 and a beta of 0.79. The company’s fifty day simple moving average is $20.64 and its 200 day simple moving average is $20.27. Civista Bancshares, Inc. has a 12-month low of $13.60 and a 12-month high of $23.70.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Thursday, January 30th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. As a group, sell-side analysts forecast 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 18th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.17 per share. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.43%. Civista Bancshares’s payout ratio is currently 33.66%.

Analyst Upgrades and Downgrades

CIVB has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their target price on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. DA Davidson set a $27.00 price objective on shares of Civista Bancshares in a research report on Friday, January 31st. StockNews.com upgraded shares of Civista Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, February 22nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $24.00 price target on shares of Civista Bancshares in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.