Beese Fulmer Investment Management Inc. trimmed its holdings in shares of Civista Bancshares, Inc. (NASDAQ:CIVB – Get Rating) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,135 shares of the bank's stock after selling 2,700 shares during the period. Beese Fulmer Investment Management Inc. owned about 1.40% of Civista Bancshares worth $4,340,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in Civista Bancshares during the first quarter valued at about $43,000. BNP Paribas Arbitrage SA raised its stake in shares of Civista Bancshares by 61.4% during the fourth quarter. BNP Paribas Arbitrage SA now owns 6,386 shares of the bank's stock valued at $156,000 after acquiring an additional 2,429 shares during the last quarter. MetLife Investment Management LLC raised its stake 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 during the last quarter. Martingale Asset Management L P bought a new position in shares of Civista Bancshares during the first quarter valued at about $264,000. Finally, Acadian Asset Management LLC raised its stake in shares of Civista Bancshares by 97.6% during the fourth quarter. Acadian Asset Management LLC now owns 15,030 shares of the bank's stock valued at $365,000 after acquiring an additional 7,425 shares during the last quarter. 52.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CIVB. Hovde Group downgraded shares of Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $25.00 price objective for the company. in a research note on Friday, July 29th. Stephens upped their price objective on shares of Civista Bancshares to $27.00 in a research note on Tuesday, August 23rd. DA Davidson reaffirmed a "buy" rating on shares of Civista Bancshares in a research note on Wednesday, July 27th. Finally, StockNews.com raised shares of Civista Bancshares from a "hold" rating to a "buy" rating in a research note on Wednesday, September 7th.

Civista Bancshares Trading Down 2.2 %

Civista Bancshares (NASDAQ:CIVB – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. Civista Bancshares had a net margin of 28.80% and a return on equity of 11.04%. The company had revenue of $29.90 million during the quarter, compared to the consensus estimate of $30.90 million. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, sell-side analysts forecast that Civista Bancshares, Inc. will post 2.42 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, August 8th. Civista Bancshares's dividend payout ratio is 22.67%.

Civista Bancshares Profile

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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.

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