Segall Bryant & Hamill LLC Acquires New Position in Civista Bancshares, Inc. $CIVB

Segall Bryant & Hamill LLC acquired a new position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 24,408 shares of the bank’s stock, valued at approximately $556,000.

Other large investors have also recently bought and sold shares of the company. Mendon Capital Advisors Corp increased its holdings in shares of Civista Bancshares by 38.3% in the 1st quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock worth $7,104,000 after acquiring an additional 86,390 shares during the period. Assenagon Asset Management S.A. acquired a new position in Civista Bancshares during the 1st quarter valued at about $433,000. Knights of Columbus Asset Advisors LLC bought a new position in Civista Bancshares in the 4th quarter worth about $1,637,000. Royce & Associates LP grew its position in Civista Bancshares by 42.9% in the 4th quarter. Royce & Associates LP now owns 392,952 shares of the bank’s stock worth $8,731,000 after purchasing an additional 117,994 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Civista Bancshares by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank’s stock valued at $21,658,000 after purchasing an additional 40,176 shares during the period. Institutional investors own 52.10% of the company’s stock.

Civista Bancshares Trading Down 0.6%

Shares of NASDAQ:CIVB opened at $28.67 on Friday. The company has a 50 day moving average of $27.73 and a 200-day moving average of $25.22. The firm has a market cap of $595.76 million, a P/E ratio of 10.62 and a beta of 0.66. Civista Bancshares, Inc. has a twelve month low of $19.01 and a twelve month high of $29.97. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.82%. The business had revenue of $47.60 million for the quarter, compared to analyst estimates of $48.08 million. As a group, analysts anticipate that Civista Bancshares, Inc. will post 2.83 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. Civista Bancshares’s dividend payout ratio (DPR) is presently 26.67%.

Analysts Set New Price Targets

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

Civista Bancshares 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.