Bank of Montreal Can Takes Position in Civista Bancshares, Inc. (NASDAQ:CIVB)

Bank of Montreal Can bought a new position in Civista Bancshares, Inc. (NASDAQ:CIVB) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 17,786 shares of the bank’s stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CIVB. Acadian Asset Management LLC increased its holdings in shares of Civista Bancshares by 33.1% during the first quarter. Acadian Asset Management LLC now owns 20,005 shares of the bank’s stock valued at $480,000 after acquiring an additional 4,975 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Civista Bancshares by 58.3% during the first quarter. MetLife Investment Management LLC now owns 8,279 shares of the bank’s stock valued at $200,000 after acquiring an additional 3,049 shares in the last quarter. LSV Asset Management increased its holdings in shares of Civista Bancshares by 4.6% during the first quarter. LSV Asset Management now owns 138,429 shares of the bank’s stock valued at $3,336,000 after acquiring an additional 6,097 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Civista Bancshares by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 600,664 shares of the bank’s stock valued at $14,476,000 after acquiring an additional 26,426 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Civista Bancshares by 0.7% during the first quarter. Vanguard Group Inc. now owns 680,374 shares of the bank’s stock valued at $16,397,000 after acquiring an additional 4,800 shares in the last quarter. Institutional investors own 50.16% of the company’s stock.

Analysts Set New Price Targets

CIVB has been the topic of several recent analyst reports. StockNews.com initiated coverage on Civista Bancshares in a research report on Thursday, October 5th. They set a “hold” rating on the stock. TheStreet raised Civista Bancshares from a “c+” rating to a “b-” rating in a research report on Monday, July 24th. Finally, Stephens reissued an “overweight” rating and issued a $22.00 target price on shares of Civista Bancshares in a research report on Tuesday, August 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.67.

Civista Bancshares Stock Performance

NASDAQ:CIVB opened at $15.58 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.98 and a quick ratio of 0.98. Civista Bancshares, Inc. has a 1 year low of $14.02 and a 1 year high of $23.96. The stock’s 50 day simple moving average is $15.50 and its two-hundred day simple moving average is $16.44. The company has a market cap of $244.54 million, a price-to-earnings ratio of 5.39 and a beta of 0.86.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Friday, October 27th. The bank reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. The business had revenue of $39.63 million for the quarter, compared to the consensus estimate of $39.90 million. Civista Bancshares had a return on equity of 13.32% and a net margin of 21.95%. As a group, equities analysts anticipate that Civista Bancshares, Inc. will post 2.64 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Monday, November 6th. Civista Bancshares’s dividend payout ratio is 22.15%.

Civista Bancshares 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.