Civista Bancshares, Inc. (NASDAQ:CIVB) Receives $26.60 Average PT from Analysts

Civista Bancshares, Inc. (NASDAQ:CIVB) has earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $26.60.

CIVB has been the subject of several analyst reports. Zacks Research raised shares of Civista Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Wall Street Zen cut shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Piper Sandler increased their target price on shares of Civista Bancshares from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, April 24th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after buying an additional 481 shares in the last quarter. Federated Hermes Inc. increased its holdings in Civista Bancshares by 306.6% in the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after buying an additional 1,015 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after buying an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Civista Bancshares by 111.4% in the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock valued at $81,000 after buying an additional 2,107 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Civista Bancshares by 784.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock valued at $111,000 after buying an additional 4,253 shares in the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

Civista Bancshares Trading Up 1.3%

NASDAQ CIVB opened at $26.82 on Thursday. The stock has a market capitalization of $557.32 million, a P/E ratio of 9.86 and a beta of 0.67. Civista Bancshares has a 52-week low of $18.94 and a 52-week high of $28.31. The firm has a 50-day moving average price of $24.77 and a 200 day moving average price of $23.74. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $47.25 million during the quarter, compared to analysts’ expectations of $45.64 million. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. Equities research analysts expect that Civista Bancshares will post 2.84 EPS for the current year.

Civista Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.72 dividend on an annualized basis and a yield of 2.7%. Civista Bancshares’s dividend payout ratio (DPR) is 26.47%.

About Civista Bancshares

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.