Civista Bancshares, Inc. to Post FY2024 Earnings of $1.74 Per Share, DA Davidson Forecasts (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Investment analysts at DA Davidson cut their FY2024 EPS estimates for Civista Bancshares in a report issued on Thursday, October 3rd. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $1.74 for the year, down from their prior estimate of $1.75. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.76 per share.

CIVB has been the topic of several other reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $19.00 price objective (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Piper Sandler increased their target price on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Civista Bancshares presently has a consensus rating of “Hold” and an average target price of $18.25.

Civista Bancshares Stock Up 0.6 %

Shares of Civista Bancshares stock opened at $17.71 on Friday. Civista Bancshares has a 1 year low of $13.60 and a 1 year high of $19.00. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $278.53 million, a price-to-earnings ratio of 7.60 and a beta of 0.80. The firm’s 50-day moving average is $16.89 and its two-hundred day moving average is $15.64.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Monday, July 29th. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $61.14 million during the quarter, compared to analyst estimates of $36.57 million. Civista Bancshares had a return on equity of 9.24% and a net margin of 14.48%. During the same period in the previous year, the company posted $0.64 EPS.

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.64 dividend on an annualized basis and a yield of 3.61%. Civista Bancshares’s dividend payout ratio (DPR) is presently 27.47%.

Insiders Place Their Bets

In other news, Director Julie A. Mattlin bought 2,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the completion of the purchase, the director now owns 12,442 shares in the company, valued at approximately $194,095.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Gendell Jeffrey L acquired a new stake in Civista Bancshares during the 4th quarter worth approximately $184,000. Wellington Management Group LLP raised its position in Civista Bancshares by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock worth $11,164,000 after buying an additional 5,400 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Civista Bancshares in the 4th quarter worth $274,000. BNP Paribas Financial Markets increased its stake in shares of Civista Bancshares by 53.3% during the first quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank’s stock worth $440,000 after acquiring an additional 9,953 shares during the period. Finally, Empowered Funds LLC raised its holdings in Civista Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock worth $679,000 after purchasing an additional 3,325 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

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.