Wellington Management Group LLP Trims Stock Holdings in Civista Bancshares, Inc. (NASDAQ:CIVB)

Wellington Management Group LLP decreased its position in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 53.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 167,307 shares of the bank's stock after selling 189,900 shares during the quarter. Wellington Management Group LLP owned approximately 1.08% of Civista Bancshares worth $3,520,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Civista Bancshares by 15.6% in the 4th quarter. SG Americas Securities LLC now owns 6,624 shares of the bank's stock worth $139,000 after purchasing an additional 892 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of Civista Bancshares by 12.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 11,773 shares of the bank's stock valued at $248,000 after acquiring an additional 1,337 shares during the period. Wells Fargo & Company MN increased its holdings in Civista Bancshares by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank's stock worth $189,000 after acquiring an additional 1,960 shares in the last quarter. Empowered Funds LLC raised its stake in Civista Bancshares by 5.0% during the 4th quarter. Empowered Funds LLC now owns 52,617 shares of the bank's stock worth $1,107,000 after acquiring an additional 2,482 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in Civista Bancshares by 3.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 85,140 shares of the bank's stock valued at $1,791,000 after purchasing an additional 2,482 shares in the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

Civista Bancshares Price Performance

Civista Bancshares stock traded up $0.58 during midday trading on Friday, reaching $22.34. 19,333 shares of the stock traded hands, compared to its average volume of 48,528. The stock has a market cap of $346.69 million, a P/E ratio of 11.06 and a beta of 0.69. The stock's fifty day moving average is $21.38 and its 200-day moving average is $21.15. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares, Inc. has a 12 month low of $13.60 and a 12 month high of $24.00.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, beating 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 firm had revenue of $40.63 million during the quarter, compared to the consensus estimate of $40.33 million. As a group, equities research analysts anticipate that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, April 29th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.04%. Civista Bancshares's payout ratio is currently 29.96%.

Insider Transactions at Civista Bancshares

In other news, Chairman Dennis E. Murray, Jr. bought 6,143 shares of the stock in a transaction dated Tuesday, April 29th. The stock was purchased at an average price of $22.44 per share, for a total transaction of $137,848.92. Following the acquisition, the chairman now owns 19,162 shares of the company's stock, valued at $429,995.28. The trade was a 47.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CIVB shares. Piper Sandler raised their price objective on shares of Civista Bancshares from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Wall Street Zen downgraded Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Stephens upped their price target on Civista Bancshares from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Civista Bancshares presently has an average rating of "Hold" and a consensus price target of $25.20.

About Civista Bancshares

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.