Civista Bancshares, Inc. (NASDAQ:CIVB) Stock Position Reduced by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,622 shares of the bank’s stock after selling 575 shares during the period. Corebridge Financial Inc.’s holdings in Civista Bancshares were worth $160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Civista Bancshares during the third quarter valued at $45,000. SG Americas Securities LLC increased its stake in Civista Bancshares by 15.6% in the 4th quarter. SG Americas Securities LLC now owns 6,624 shares of the bank’s stock worth $139,000 after purchasing an additional 892 shares in the last quarter. Summit Global Investments acquired a new stake in Civista Bancshares during the 4th quarter worth about $272,000. Jane Street Group LLC raised its stake in Civista Bancshares by 24.2% during the 3rd quarter. Jane Street Group LLC now owns 20,215 shares of the bank’s stock valued at $360,000 after purchasing an additional 3,934 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Civista Bancshares by 90.1% during the third quarter. JPMorgan Chase & Co. now owns 25,438 shares of the bank’s stock valued at $453,000 after buying an additional 12,059 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CIVB has been the topic of several research reports. DA Davidson set a $27.00 target price on Civista Bancshares in a research report on Friday, January 31st. StockNews.com upgraded shares of Civista Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $24.00 target price on shares of Civista Bancshares in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Civista Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

Civista Bancshares Stock Performance

Shares of Civista Bancshares stock opened at $18.44 on Monday. The company has a market capitalization of $285.43 million, a PE ratio of 9.13 and a beta of 0.67. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The stock’s fifty day simple moving average is $20.06 and its 200 day simple moving average is $20.47. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $23.70.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.10. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. On average, research analysts predict that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.69%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, February 4th. Civista Bancshares’s dividend payout ratio is presently 33.66%.

Civista Bancshares Company 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.