Lazard Asset Management LLC Acquires Shares of 12,530 Civista Bancshares, Inc. (NASDAQ:CIVB)

Lazard Asset Management LLC bought a new stake in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,530 shares of the bank's stock, valued at approximately $263,000. Lazard Asset Management LLC owned about 0.08% of Civista Bancshares at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Civista Bancshares by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 857,968 shares of the bank's stock valued at $18,052,000 after acquiring an additional 12,746 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Civista Bancshares by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 833,047 shares of the bank's stock valued at $17,527,000 after buying an additional 23,809 shares during the period. Geode Capital Management LLC lifted its stake in Civista Bancshares by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 351,624 shares of the bank's stock valued at $7,399,000 after buying an additional 3,272 shares during the period. Mendon Capital Advisors Corp lifted its stake in Civista Bancshares by 12.2% in the fourth quarter. Mendon Capital Advisors Corp now owns 242,450 shares of the bank's stock valued at $5,101,000 after buying an additional 26,270 shares during the period. Finally, American Century Companies Inc. lifted its stake in Civista Bancshares by 55.0% in the fourth quarter. American Century Companies Inc. now owns 191,316 shares of the bank's stock valued at $4,025,000 after buying an additional 67,889 shares during the period. 52.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler boosted their price target on Civista Bancshares from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods boosted their price target on Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Wall Street Zen raised Civista Bancshares from a "hold" rating to a "buy" rating in a research note on Saturday, February 22nd. DA Davidson set a $27.00 price target on Civista Bancshares in a research note on Friday, January 31st. Finally, Stephens boosted their price target on Civista Bancshares from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.20.

Insider Transactions at Civista Bancshares

In related news, Chairman Dennis E. Murray, Jr. purchased 6,143 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average cost of $22.44 per share, with a total value of $137,848.92. Following the transaction, the chairman now owns 19,162 shares of the company's stock, valued at $429,995.28. This represents a 47.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

Civista Bancshares Stock Down 1.4%

Shares of NASDAQ:CIVB traded down $0.31 during trading on Thursday, reaching $22.62. 5,406 shares of the stock were exchanged, compared to its average volume of 42,344. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. Civista Bancshares, Inc. has a 1-year low of $13.60 and a 1-year high of $24.00. The stock has a fifty day moving average of $21.07 and a two-hundred day moving average of $21.18. The firm has a market cap of $351.04 million, a price-to-earnings ratio of 11.20 and a beta of 0.69.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.16. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. The company had revenue of $40.63 million for the quarter, compared to analyst estimates of $40.33 million. Research analysts anticipate that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, April 29th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, April 29th. Civista Bancshares's payout ratio is 29.96%.

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.