Maltese Capital Management LLC Acquires 137,000 Shares of Civista Bancshares, Inc. $CIVB

Maltese Capital Management LLC grew its holdings in Civista Bancshares, Inc. (NASDAQ:CIVB) by 93.2% during the third quarter, Holdings Channel.com reports. The firm owned 284,000 shares of the bank’s stock after acquiring an additional 137,000 shares during the quarter. Maltese Capital Management LLC’s holdings in Civista Bancshares were worth $5,768,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CIVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Civista Bancshares by 5.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock worth $179,000 after purchasing an additional 485 shares during the last quarter. Bank of America Corp DE increased its stake in Civista Bancshares by 28.5% in the 3rd quarter. Bank of America Corp DE now owns 33,349 shares of the bank’s stock valued at $677,000 after buying an additional 7,398 shares during the last quarter. Alliancebernstein L.P. lifted its position in Civista Bancshares by 2,904.8% during the 3rd quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank’s stock worth $7,220,000 after buying an additional 343,642 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Civista Bancshares by 503.3% during the 3rd quarter. Two Sigma Investments LP now owns 100,015 shares of the bank’s stock worth $2,031,000 after buying an additional 83,438 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Civista Bancshares by 8.5% during the 3rd quarter. Bridgeway Capital Management LLC now owns 112,078 shares of the bank’s stock worth $2,276,000 after buying an additional 8,804 shares during the last quarter. Institutional investors own 52.10% of the company’s stock.

Civista Bancshares Stock Up 0.6%

Civista Bancshares stock opened at $22.38 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $23.39 and its 200-day moving average is $22.36. The firm has a market capitalization of $464.16 million, a PE ratio of 8.41 and a beta of 0.68. Civista Bancshares, Inc. has a fifty-two week low of $17.47 and a fifty-two week high of $25.59.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. Civista Bancshares had a net margin of 18.12% and a return on equity of 10.48%. The business had revenue of $46.34 million during the quarter, compared to the consensus estimate of $45.43 million. Sell-side analysts anticipate that Civista Bancshares, Inc. will post 2.28 earnings per share for the current year.

Civista Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, February 10th. This represents a $0.72 annualized dividend and a dividend yield of 3.2%. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.17. Civista Bancshares’s dividend payout ratio is presently 27.07%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CIVB. Keefe, Bruyette & Woods lifted their target price on Civista Bancshares from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Hovde Group increased their price target on Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Zacks Research upgraded Civista Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Finally, DA Davidson reiterated a “buy” rating and set a $28.00 price objective on shares of Civista Bancshares in a research note on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Civista Bancshares presently has a consensus rating of “Hold” and an average price target of $26.00.

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.