Hillsdale Investment Management Inc. Makes New $109,000 Investment in Civista Bancshares, Inc. (NASDAQ:CIVB)

Hillsdale Investment Management Inc. bought a new position in Civista Bancshares, Inc. (NASDAQ:CIVB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,900 shares of the bank’s stock, valued at approximately $109,000.

Several other hedge funds have also recently modified their holdings of CIVB. Nicholas Hoffman & Company LLC. acquired a new position in shares of Civista Bancshares during the third quarter valued at about $643,000. Pacific Ridge Capital Partners LLC increased its holdings in shares of Civista Bancshares by 6.0% during the third quarter. Pacific Ridge Capital Partners LLC now owns 400,905 shares of the bank’s stock valued at $6,214,000 after acquiring an additional 22,564 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Civista Bancshares during the third quarter valued at about $338,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Civista Bancshares during the third quarter valued at about $160,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Civista Bancshares by 41.1% during the fourth quarter. BNP Paribas Financial Markets now owns 18,660 shares of the bank’s stock valued at $344,000 after acquiring an additional 5,440 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Price Performance

Shares of NASDAQ CIVB opened at $14.72 on Wednesday. The business’s 50 day moving average price is $14.75 and its 200 day moving average price is $15.84. The firm has a market cap of $231.55 million, a P/E ratio of 6.32 and a beta of 0.79. Civista Bancshares, Inc. has a 52 week low of $13.71 and a 52 week high of $19.80. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). Civista Bancshares had a return on equity of 10.23% and a net margin of 16.38%. The company had revenue of $58.63 million during the quarter, compared to analysts’ expectations of $38.01 million. During the same quarter in the prior year, the company posted $0.82 EPS. On average, sell-side analysts expect that Civista Bancshares, Inc. will post 1.78 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 7th will be given a $0.16 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.64 annualized dividend and a yield of 4.35%. Civista Bancshares’s dividend payout ratio is presently 27.47%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TheStreet downgraded shares of Civista Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 target price (down previously from $21.00) on shares of Civista Bancshares in a research report on Wednesday, May 1st. Piper Sandler assumed coverage on Civista Bancshares in a research report on Wednesday, February 21st. They issued a “neutral” rating and a $18.00 target price on the stock. Hovde Group assumed coverage on Civista Bancshares in a research report on Monday, April 1st. They issued a “market perform” rating and a $16.00 target price on the stock. Finally, Stephens dropped their target price on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.75.

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.