Connor Clark & Lunn Investment Management Ltd. Buys 8,597 Shares of Civista Bancshares, Inc. (NASDAQ:CIVB)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Civista Bancshares, Inc. (NASDAQ:CIVB) by 38.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,095 shares of the bank’s stock after purchasing an additional 8,597 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.20% of Civista Bancshares worth $554,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Civista Bancshares by 130.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock valued at $1,131,000 after acquiring an additional 35,968 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Civista Bancshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock valued at $12,501,000 after purchasing an additional 8,797 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Civista Bancshares by 30.9% during the second quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock worth $318,000 after purchasing an additional 4,985 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Civista Bancshares in the third quarter valued at approximately $926,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Civista Bancshares by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock valued at $1,831,000 after acquiring an additional 4,284 shares during the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Price Performance

CIVB stock opened at $22.88 on Friday. Civista Bancshares, Inc. has a 1 year low of $13.60 and a 1 year high of $23.69. The stock has a market capitalization of $360.13 million, a PE ratio of 11.38 and a beta of 0.78. The company’s 50-day moving average is $19.86 and its 200-day moving average is $17.21. 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 released its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.44 by $0.09. The firm had revenue of $62.43 million during the quarter, compared to the consensus estimate of $37.60 million. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. During the same quarter in the previous year, the company posted $0.66 earnings per share. Equities research analysts expect that Civista Bancshares, Inc. will post 1.91 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.16 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.64 annualized dividend and a dividend yield of 2.80%. Civista Bancshares’s payout ratio is 31.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CIVB shares. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Wednesday, October 30th. Stephens upped their target price on Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Civista Bancshares Profile

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.