Ritholtz Wealth Management Sells 73,136 Shares of Civista Bancshares, Inc. $CIVB

Key Points

• Ritholtz Wealth Management trimmed its stake in Civista by 34.9%, selling 73,136 shares in Q4 and now holds 136,480 shares (about 0.71% of the company) valued at roughly $3.03M.
• Civista beat Q4 estimates and raised its dividend: EPS was $0.75 vs. $0.61 expected and revenue was $46.34M, and the bank increased its quarterly payout to $0.18 (annualized $0.72) for a 3.0% yield.
• Analyst stance and valuation: the consensus rating is "Hold" with a $26.20 target; the stock trades near $24.05 (52-week range $17.47–$25.59), market cap ~$593M and a PE of 9.04.

Ritholtz Wealth Management trimmed its holdings in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 34.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,480 shares of the bank's stock after selling 73,136 shares during the period. Ritholtz Wealth Management owned about 0.71% of Civista Bancshares worth $3,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Civista Bancshares by 5.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank's stock valued at $179,000 after buying an additional 485 shares in the last quarter. Barclays PLC lifted its stake in shares of Civista Bancshares by 0.9% in the third quarter. Barclays PLC now owns 54,603 shares of the bank's stock valued at $1,109,000 after buying an additional 498 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Civista Bancshares by 306.6% in the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank's stock valued at $31,000 after buying an additional 1,015 shares in the last quarter. Caldwell Trust Co bought a new position in shares of Civista Bancshares in the second quarter valued at $32,000. Finally, Rhumbline Advisers lifted its stake in shares of Civista Bancshares by 6.9% in the second quarter. Rhumbline Advisers now owns 23,867 shares of the bank's stock valued at $554,000 after buying an additional 1,532 shares in the last quarter. 52.10% of the stock is owned by institutional investors.

Civista Bancshares Stock Performance

NASDAQ CIVB opened at $24.05 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 50-day simple moving average of $23.35 and a 200 day simple moving average of $22.61. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $593.07 million, a PE ratio of 9.04 and a beta of 0.64.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings data 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 net margin of 18.12% and a return on equity of 10.48%. The business had revenue of $46.34 million during the quarter, compared to the consensus estimate of $45.43 million. On average, research analysts predict that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Increases Dividend

The business 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. This represents a $0.72 dividend on an annualized basis and a yield of 3.0%. This is a boost from Civista Bancshares's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 10th. Civista Bancshares's dividend payout ratio is 27.07%.

Analyst Ratings Changes

A number of research firms have weighed in on CIVB. Hovde Group raised their price objective on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a "market perform" rating in a research note on Friday, January 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Civista Bancshares in a report on Monday, December 29th. DA Davidson reiterated a "buy" rating and issued a $28.00 target price on shares of Civista Bancshares in a report on Friday, January 30th. Zacks Research upgraded shares of Civista Bancshares from a "strong sell" rating to a "hold" rating in a report on Monday, February 16th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Civista Bancshares from $27.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Three 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, Civista Bancshares presently has a consensus rating of "Hold" and a consensus target price of $26.20.

Civista Bancshares Company 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.

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