Civista Bancshares, Inc. (NASDAQ:CIVB) Receives Consensus Rating of “Hold” from Brokerages

Civista Bancshares, Inc. (NASDAQ:CIVB) has earned a consensus recommendation of “Hold” from the four brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.25.

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Piper Sandler upped their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Civista Bancshares Trading Up 0.4 %

Shares of CIVB opened at $17.75 on Friday. The firm has a market capitalization of $279.15 million, a price-to-earnings ratio of 7.62 and a beta of 0.80. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.01 and a quick ratio of 1.01. Civista Bancshares has a 1-year low of $13.60 and a 1-year high of $19.00. The company has a 50-day moving average of $16.97 and a 200 day moving average of $15.52.

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. Civista Bancshares had a return on equity of 9.24% and a net margin of 14.48%. The business had revenue of $61.14 million during the quarter, compared to analyst estimates of $36.57 million. During the same period in the previous year, the company posted $0.64 EPS. On average, research analysts expect that Civista Bancshares will post 1.76 EPS for the current year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were issued a $0.16 dividend. The ex-dividend date of this dividend 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 is presently 27.47%.

Insider Buying and Selling at Civista Bancshares

In other news, Director Julie A. Mattlin purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of $15.60 per share, with a total value of $31,200.00. Following the completion of the acquisition, the director now owns 12,442 shares of the company’s stock, valued at $194,095.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.01% of the company’s stock.

Institutional Investors Weigh In On Civista Bancshares

Large investors have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in Civista Bancshares by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after purchasing an additional 619 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Civista Bancshares by 11.3% during the first quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank’s stock valued at $370,000 after buying an additional 2,453 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Civista Bancshares by 5.4% in the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock valued at $800,000 after acquiring an additional 2,650 shares during the period. Empowered Funds LLC raised its stake in Civista Bancshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock worth $679,000 after acquiring an additional 3,325 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its position in Civista Bancshares by 24.7% during the 1st quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock worth $283,000 after acquiring an additional 3,672 shares during the period. Hedge funds and other institutional investors own 52.10% of the company’s stock.

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.