Fourthstone LLC Sells 24,463 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Fourthstone LLC trimmed its position in Civista Bancshares, Inc. (NASDAQ:CIVB) by 49.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 24,650 shares of the bank’s stock after selling 24,463 shares during the period. Fourthstone LLC’s holdings in Civista Bancshares were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in Civista Bancshares during the 3rd quarter worth $102,000. Princeton Capital Management LLC bought a new position in shares of Civista Bancshares in the second quarter worth about $189,000. Allspring Global Investments Holdings LLC lifted its position in shares of Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after purchasing an additional 12,624 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Civista Bancshares by 4.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock valued at $248,000 after purchasing an additional 589 shares during the period. Finally, Quadrature Capital Ltd grew its holdings in Civista Bancshares by 24.7% in the 1st quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock valued at $283,000 after buying an additional 3,672 shares during the last quarter. 52.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

CIVB has been the subject of a number of research analyst reports. Stephens upped their price target on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Wednesday, October 30th. Finally, Piper Sandler raised their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Civista Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Civista Bancshares Stock Performance

Shares of NASDAQ:CIVB traded up $0.01 during trading on Thursday, hitting $22.81. 31,300 shares of the stock were exchanged, compared to its average volume of 41,731. The company has a market capitalization of $359.03 million, a price-to-earnings ratio of 11.35 and a beta of 0.78. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95. Civista Bancshares, Inc. has a 1-year low of $13.60 and a 1-year high of $23.69. The company’s fifty day simple moving average is $19.67 and its 200-day simple moving average is $17.11.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. The firm had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. During the same period last year, the business earned $0.66 earnings per share. Sell-side analysts expect that Civista Bancshares, Inc. will post 1.91 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a $0.16 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.64 dividend on an annualized basis and a yield of 2.81%. Civista Bancshares’s payout ratio is currently 31.84%.

About Civista Bancshares

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.