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.
Get Civista Bancshares alerts: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 %
CIVB stock traded down $0.47 during trading on Friday, reaching $20.65. The company had a trading volume of 111,649 shares, compared to its average volume of 30,032. Civista Bancshares, Inc. has a 52 week low of $20.10 and a 52 week high of $25.94. The company has a market cap of $318.42 million, a P/E ratio of 8.36 and a beta of 0.83. The business has a 50 day moving average of $21.67 and a 200 day moving average of $22.08. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91.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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