Civista Bancshares, Inc. (NASDAQ:CIVB) Receives $24.60 Consensus Target Price from Analysts

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $24.60.

A number of brokerages have issued reports on CIVB. Keefe, Bruyette & Woods increased their target price on shares of Civista Bancshares from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. 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. Zacks Research upgraded shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. DA Davidson reaffirmed a “buy” rating and set a $26.00 price target on shares of Civista Bancshares in a report on Friday, November 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Civista Bancshares in a research note on Thursday.

Civista Bancshares Stock Down 0.2%

CIVB stock opened at $24.12 on Thursday. Civista Bancshares has a fifty-two week low of $17.47 and a fifty-two week high of $25.59. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $465.76 million, a price-to-earnings ratio of 9.00 and a beta of 0.70. The business’s fifty day moving average price is $21.91 and its two-hundred day moving average price is $21.58.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Wednesday, November 5th. The bank reported $0.71 EPS for the quarter. Civista Bancshares had a net margin of 17.42% and a return on equity of 10.20%. The business had revenue of $44.18 million for the quarter. On average, equities analysts anticipate that Civista Bancshares will post 2.28 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Tuesday, November 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Civista Bancshares’s dividend payout ratio (DPR) is currently 25.37%.

Hedge Funds Weigh In On Civista Bancshares

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of Civista Bancshares by 1,092.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock worth $29,938,000 after buying an additional 1,350,409 shares during the last quarter. Endeavour Capital Advisors Inc. bought a new position in shares of Civista Bancshares in the third quarter worth about $11,134,000. Alliancebernstein L.P. boosted its stake in shares of Civista Bancshares by 2,904.8% in the 3rd quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank’s stock valued at $7,220,000 after purchasing an additional 343,642 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of Civista Bancshares in the 3rd quarter valued at approximately $5,584,000. Finally, Ritholtz Wealth Management increased its position in Civista Bancshares by 377.8% during the 2nd quarter. Ritholtz Wealth Management now owns 221,966 shares of the bank’s stock worth $5,150,000 after purchasing an additional 175,514 shares in the last quarter. Institutional investors and hedge funds 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.