Civista Bancshares, Inc. $CIVB Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Civista Bancshares by 19.2%, selling 32,166 shares, and now holds approximately 0.87% of the company valued at $2,641,000.
• Civista Bancshares reported $0.66 EPS for the last quarter, missing analyst estimates of $0.69, with revenues falling short at $41.40 million against an expectation of $43.07 million.
• The company declared a quarterly dividend of $0.17 per share, which gives an annualized dividend yield of 3.2%, and has a dividend payout ratio of 26.88%.

Wellington Management Group LLP trimmed its holdings in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 19.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 135,141 shares of the bank's stock after selling 32,166 shares during the quarter. Wellington Management Group LLP owned about 0.87% of Civista Bancshares worth $2,641,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Civista Bancshares by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 833,047 shares of the bank's stock worth $17,527,000 after buying an additional 23,809 shares during the period. American Century Companies Inc. grew its stake in shares of Civista Bancshares by 13.8% in the 1st quarter. American Century Companies Inc. now owns 217,777 shares of the bank's stock worth $4,255,000 after acquiring an additional 26,461 shares in the last quarter. Northern Trust Corp grew its stake in shares of Civista Bancshares by 6.4% in the 4th quarter. Northern Trust Corp now owns 138,838 shares of the bank's stock worth $2,921,000 after acquiring an additional 8,412 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Civista Bancshares by 33.9% in the 1st quarter. Segall Bryant & Hamill LLC now owns 112,887 shares of the bank's stock worth $2,206,000 after acquiring an additional 28,581 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Civista Bancshares by 166.8% during the fourth quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank's stock worth $1,950,000 after buying an additional 57,950 shares during the last quarter. 52.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. DA Davidson set a $26.00 target price on shares of Civista Bancshares and gave the stock a "buy" rating in a research note on Monday, July 14th. Hovde Group lowered shares of Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $22.00 target price on the stock. in a report on Monday, August 18th. Stephens decreased their target price on shares of Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of Civista Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $24.80.

Insider Activity at Civista Bancshares

In other Civista Bancshares news, Director Darci L. Congrove bought 1,250 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was purchased at an average cost of $21.25 per share, with a total value of $26,562.50. Following the completion of the acquisition, the director owned 1,250 shares in the company, valued at $26,562.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard J. Dutton bought 4,000 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was acquired at an average cost of $21.25 per share, with a total value of $85,000.00. Following the completion of the acquisition, the senior vice president owned 4,000 shares of the company's stock, valued at $85,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 14,742 shares of company stock worth $307,978. 2.60% of the stock is currently owned by corporate insiders.

Civista Bancshares Trading Up 1.3%

Shares of NASDAQ CIVB traded up $0.26 during mid-day trading on Thursday, hitting $21.01. The stock had a trading volume of 15,157 shares, compared to its average volume of 60,516. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 0.99. The business has a 50 day moving average price of $21.33 and a two-hundred day moving average price of $21.15. The firm has a market cap of $405.70 million, a P/E ratio of 8.30 and a beta of 0.76. Civista Bancshares, Inc. has a 1 year low of $16.24 and a 1 year high of $25.59.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). Civista Bancshares had a net margin of 15.83% and a return on equity of 9.77%. The business had revenue of $41.40 million during the quarter, compared to the consensus estimate of $43.07 million. On average, equities analysts anticipate that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.68 annualized dividend and a dividend yield of 3.2%. Civista Bancshares's dividend payout ratio (DPR) is presently 26.88%.

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.