Maltese Capital Management LLC Lowers Position in Civista Bancshares, Inc. $CIVB

Maltese Capital Management LLC cut its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 47.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 149,315 shares of the bank’s stock after selling 134,685 shares during the quarter. Maltese Capital Management LLC’s holdings in Civista Bancshares were worth $3,318,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $179,000 after purchasing an additional 485 shares in the last quarter. Barclays PLC lifted its position in Civista Bancshares by 0.9% during the third quarter. Barclays PLC now owns 54,603 shares of the bank’s stock valued at $1,109,000 after purchasing an additional 498 shares in the last quarter. CWM LLC lifted its position in Civista Bancshares by 12.1% during the fourth quarter. CWM LLC now owns 8,249 shares of the bank’s stock valued at $183,000 after purchasing an additional 893 shares in the last quarter. Federated Hermes Inc. lifted its position in Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Civista Bancshares by 6.9% during the second quarter. Rhumbline Advisers now owns 23,867 shares of the bank’s stock valued at $554,000 after purchasing an additional 1,532 shares in the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

Civista Bancshares Trading Down 2.6%

Shares of CIVB stock opened at $26.49 on Tuesday. Civista Bancshares, Inc. has a 12-month low of $18.94 and a 12-month high of $28.31. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average price is $25.00 and its 200-day moving average price is $23.83. The stock has a market capitalization of $550.46 million, a price-to-earnings ratio of 9.74 and a beta of 0.67.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%.The firm had revenue of $47.25 million for the quarter, compared to analysts’ expectations of $45.64 million. Equities research analysts predict that Civista Bancshares, Inc. will post 2.84 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares’s payout ratio is 26.47%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CIVB. Zacks Research upgraded Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Piper Sandler boosted their price objective on Civista Bancshares from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Wall Street Zen downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.60.

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.