110,000 Shares in Civista Bancshares, Inc. $CIVB Bought by Stieven Capital Advisors L.P.

Key Points

• Stieven Capital Advisors bought a new stake of 110,000 shares in Civista Bancshares (~$2.23M), joining several other institutional buyers (including Vanguard, Endeavour, Royce and UBS) as total institutional ownership stands at about 52.1%.
• Civista recently reported quarterly EPS $0.75, beating the $0.61 consensus and posting revenue of $46.34M versus $45.43M estimated, with a return on equity of 10.48% and a net margin of 18.12%.
• The bank raised its quarterly dividend to $0.18 (annualized $0.72) for a 3.2% yield$26.00.

Stieven Capital Advisors L.P. purchased a new stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 110,000 shares of the bank's stock, valued at approximately $2,234,000. Stieven Capital Advisors L.P. owned approximately 0.57% of Civista Bancshares as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CIVB. Endeavour Capital Advisors Inc. purchased a new position in shares of Civista Bancshares in the 3rd quarter worth about $11,134,000. Royce & Associates LP bought a new position in shares of Civista Bancshares during the 3rd quarter valued at about $5,584,000. Vanguard Group Inc. raised its holdings in shares of Civista Bancshares by 19.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank's stock valued at $20,752,000 after buying an additional 166,049 shares in the last quarter. UBS Group AG lifted its position in Civista Bancshares by 126.9% in the 3rd quarter. UBS Group AG now owns 210,739 shares of the bank's stock worth $4,280,000 after buying an additional 117,855 shares during the last quarter. Finally, Strategic Value Bank Partners LLC bought a new stake in Civista Bancshares in the 3rd quarter worth approximately $2,031,000. Institutional investors own 52.10% of the company's stock.

Civista Bancshares Price Performance

CIVB opened at $22.25 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.95. The stock has a market capitalization of $461.47 million, a PE ratio of 8.36 and a beta of 0.68. The stock's 50 day moving average price is $23.39 and its 200-day moving average price is $22.33. Civista Bancshares, Inc. has a 52-week low of $17.47 and a 52-week high of $25.59.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.14. The company had revenue of $46.34 million during the quarter, compared to analyst estimates of $45.43 million. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%. On average, equities research analysts predict that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.72 annualized dividend and a dividend yield of 3.2%. This is a positive change from Civista Bancshares's previous quarterly dividend of $0.17. Civista Bancshares's dividend payout ratio is 27.07%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CIVB. Zacks Research raised Civista Bancshares from a "strong sell" rating to a "hold" rating in a research note on Monday, February 16th. Keefe, Bruyette & Woods lifted their price target 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. Weiss Ratings restated a "buy (b-)" rating on shares of Civista Bancshares in a report on Monday, December 29th. DA Davidson reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Civista Bancshares in a research note on Friday, January 30th. Finally, Hovde Group increased their target price on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a "market perform" rating in a report on Friday, January 30th. Three 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 company currently has an average rating of "Hold" and a consensus target price of $26.00.

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.

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