Elizabeth Park Capital Advisors Ltd. Decreases Position in Civista Bancshares, Inc. $CIVB

Elizabeth Park Capital Advisors Ltd. trimmed its stake in Civista Bancshares, Inc. (NASDAQ:CIVB) by 41.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,891 shares of the bank’s stock after selling 42,595 shares during the period. Elizabeth Park Capital Advisors Ltd.’s holdings in Civista Bancshares were worth $1,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hillsdale Investment Management Inc. raised its holdings in Civista Bancshares by 43.7% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 132,711 shares of the bank’s stock valued at $2,695,000 after buying an additional 40,376 shares during the period. Strategic Value Bank Partners LLC purchased a new position in Civista Bancshares during the third quarter worth $2,031,000. Assenagon Asset Management S.A. purchased a new position in Civista Bancshares during the third quarter worth $1,603,000. Royce & Associates LP bought a new position in Civista Bancshares during the third quarter valued at $5,584,000. Finally, EJF Capital LLC purchased a new stake in shares of Civista Bancshares in the third quarter valued at $1,763,000. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Stock Performance

Shares of NASDAQ:CIVB opened at $22.25 on Friday. The firm has a market cap of $461.47 million, a PE ratio of 8.36 and a beta of 0.68. The firm’s 50 day simple moving average is $23.39 and its 200-day simple moving average is $22.33. Civista Bancshares, Inc. has a one year low of $17.47 and a one year high of $25.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%.The firm had revenue of $46.34 million during the quarter, compared to analyst estimates of $45.43 million. As a group, equities 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 24th. Shareholders of record on Tuesday, February 10th were given a dividend of $0.18 per share. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.72 dividend on an annualized basis and a yield of 3.2%. Civista Bancshares’s dividend payout ratio is presently 27.07%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CIVB shares. Zacks Research upgraded shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Keefe, Bruyette & Woods raised their price objective on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Hovde Group upped their target price 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. DA Davidson reissued a “buy” rating and set a $28.00 price target on shares of Civista Bancshares in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Civista Bancshares in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.