Maltese Capital Management LLC Has $5.77 Million Stake in Civista Bancshares, Inc. $CIVB

Maltese Capital Management LLC grew its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) by 93.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 284,000 shares of the bank’s stock after buying an additional 137,000 shares during the period. Maltese Capital Management LLC owned approximately 1.47% of Civista Bancshares worth $5,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Civista Bancshares by 1,092.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock valued at $29,938,000 after acquiring an additional 1,350,409 shares during the period. Endeavour Capital Advisors Inc. bought a new stake in Civista Bancshares in the third quarter valued at approximately $11,134,000. Alliancebernstein L.P. increased its stake in Civista Bancshares by 2,904.8% in the third quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank’s stock valued at $7,220,000 after purchasing an additional 343,642 shares in the last quarter. Royce & Associates LP acquired a new stake in Civista Bancshares in the third quarter worth $5,584,000. Finally, Vanguard Group Inc. raised its holdings in Civista Bancshares by 19.4% in the third quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock worth $20,752,000 after purchasing an additional 166,049 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Civista Bancshares Trading Up 0.6%

CIVB opened at $22.38 on Tuesday. The stock has a market capitalization of $464.16 million, a P/E ratio of 8.41 and a beta of 0.68. Civista Bancshares, Inc. has a 12 month low of $17.47 and a 12 month high of $25.59. The firm’s fifty day simple moving average is $23.39 and its 200 day simple moving average is $22.36. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $45.43 million. As a group, research analysts anticipate that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, February 10th. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.2%. Civista Bancshares’s dividend payout ratio is 27.07%.

About Civista Bancshares

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.