Civista Bancshares (NASDAQ:CIVB) Reaches New 12-Month High – Here’s What Happened

Civista Bancshares, Inc. (NASDAQ:CIVB) shares reached a new 52-week high during trading on Monday . The company traded as high as $29.97 and last traded at $29.4130, with a volume of 5072 shares changing hands. The stock had previously closed at $29.06.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CIVB. Wall Street Zen downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “buy (b)” rating on shares of Civista Bancshares in a research report on Wednesday, July 8th. DA Davidson upped their target price on Civista Bancshares from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $31.00 target price (up from $29.00) on shares of Civista Bancshares in a research note on Friday, July 24th. Finally, Zacks Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.25.

Civista Bancshares Stock Down 0.4%

The stock’s fifty day moving average price is $27.61 and its 200 day moving average price is $25.14. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The stock has a market cap of $604.49 million, a P/E ratio of 10.77 and a beta of 0.66.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.82%. The company had revenue of $47.60 million during the quarter, compared to the consensus estimate of $48.08 million. As a group, research analysts forecast that Civista Bancshares, Inc. will post 2.83 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $0.72 annualized dividend and a yield of 2.5%. Civista Bancshares’s payout ratio is 26.67%.

Hedge Funds Weigh In On Civista Bancshares

Several institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after buying an additional 481 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after acquiring an additional 1,015 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Civista Bancshares by 628.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after acquiring an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Civista Bancshares by 111.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock valued at $81,000 after purchasing an additional 2,107 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Civista Bancshares by 784.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock valued at $111,000 after purchasing an additional 4,253 shares in the last quarter. 52.10% of the stock is currently owned by institutional investors.

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.