Summit Financial Strategies Inc. Decreases Stock Position in Civista Bancshares, Inc. (NASDAQ:CIVB)

Summit Financial Strategies Inc. trimmed its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,774 shares of the bank’s stock after selling 834 shares during the quarter. Summit Financial Strategies Inc. owned approximately 0.91% of Civista Bancshares worth $3,025,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CIVB. Inspire Investing LLC grew its position in shares of Civista Bancshares by 1.1% in the fourth quarter. Inspire Investing LLC now owns 52,528 shares of the bank’s stock valued at $1,105,000 after purchasing an additional 554 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Civista Bancshares by 4.4% in the third 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. SG Americas Securities LLC grew its stake in shares of Civista Bancshares by 15.6% in the 4th quarter. SG Americas Securities LLC now owns 6,624 shares of the bank’s stock valued at $139,000 after buying an additional 892 shares during the period. Park National Corp OH increased its stake in Civista Bancshares by 8.6% during the fourth quarter. Park National Corp OH now owns 25,275 shares of the bank’s stock worth $532,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Civista Bancshares during the 3rd quarter worth about $45,000. 52.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CIVB has been the subject of several research reports. Keefe, Bruyette & Woods lifted their target price on shares of Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Stephens boosted their target price on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Civista Bancshares has an average rating of “Moderate Buy” and a consensus target price of $21.75.

Civista Bancshares Stock Performance

NASDAQ CIVB opened at $21.23 on Monday. The company has a fifty day moving average of $21.56 and a two-hundred day moving average of $19.18. The company has a market capitalization of $334.16 million, a PE ratio of 10.56 and a beta of 0.82. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year high of $23.69. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm earned $0.66 EPS. As a group, analysts expect that Civista Bancshares, Inc. will post 1.92 earnings per share for the current year.

Civista Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, February 4th. Civista Bancshares’s payout ratio is presently 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.