Hillsdale Investment Management Inc. Has $2.70 Million Position in Civista Bancshares, Inc. $CIVB

Hillsdale Investment Management Inc. increased its position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 43.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 132,711 shares of the bank’s stock after buying an additional 40,376 shares during the quarter. Hillsdale Investment Management Inc. owned 0.69% of Civista Bancshares worth $2,695,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CIVB. AQR Capital Management LLC boosted its position in Civista Bancshares by 28.0% during the 1st quarter. AQR Capital Management LLC now owns 35,012 shares of the bank’s stock worth $684,000 after acquiring an additional 7,652 shares during the last quarter. Empowered Funds LLC boosted its holdings in Civista Bancshares by 22.7% during the first quarter. Empowered Funds LLC now owns 64,535 shares of the bank’s stock worth $1,261,000 after purchasing an additional 11,918 shares during the last quarter. Jane Street Group LLC acquired a new position in Civista Bancshares during the first quarter worth $453,000. Acadian Asset Management LLC grew its position in Civista Bancshares by 15.1% in the first quarter. Acadian Asset Management LLC now owns 33,814 shares of the bank’s stock valued at $659,000 after purchasing an additional 4,426 shares in the last quarter. Finally, CWM LLC increased its stake in Civista Bancshares by 23.8% in the 2nd quarter. CWM LLC now owns 3,819 shares of the bank’s stock valued at $89,000 after buying an additional 735 shares during the last quarter. Institutional investors own 52.10% of the company’s stock.

Analyst Ratings Changes

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

Civista Bancshares Trading Up 1.5%

Shares of NASDAQ:CIVB opened at $24.43 on Monday. Civista Bancshares, Inc. has a 52-week low of $17.47 and a 52-week high of $25.59. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $471.74 million, a P/E ratio of 9.18 and a beta of 0.70. The company has a 50-day simple moving average of $23.40 and a 200 day simple moving average of $22.04.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data 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 return on equity of 11.14% and a net margin of 18.12%.The firm had revenue of $46.34 million for the quarter, compared to analyst estimates of $45.43 million. Sell-side analysts forecast that Civista Bancshares, Inc. will post 2.28 earnings per share for the current year.

Civista Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be paid a $0.18 dividend. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, February 10th. This represents a $0.72 dividend on an annualized basis and a yield of 2.9%. Civista Bancshares’s dividend payout ratio (DPR) is currently 27.07%.

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.