Civista Bancshares, Inc. (NASDAQ:CIVB) Stock Has Consensus Price Target of $30.25

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $30.25.

CIVB has been the subject of a number of research reports. Piper Sandler increased their target price on Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Civista Bancshares in a report on Friday, October 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $31.00 price target (up from $29.00) on shares of Civista Bancshares in a research report on Friday, July 24th. Finally, DA Davidson boosted their price target on shares of Civista Bancshares from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, July 27th.

Institutional Trading of Civista Bancshares

A number of large investors have recently made changes to their positions in CIVB. Public Employees Retirement System of Ohio purchased a new stake in shares of Civista Bancshares during the 2nd quarter valued at about $85,000. Sequoia Financial Advisors LLC purchased a new position in Civista Bancshares in the second quarter worth about $216,000. Sterling Capital Management LLC grew its position in Civista Bancshares by 7.8% in the third quarter. Sterling Capital Management LLC now owns 10,504 shares of the bank’s stock worth $277,000 after acquiring an additional 764 shares in the last quarter. NewEdge Advisors LLC increased its stake in Civista Bancshares by 1,102.6% during the first quarter. NewEdge Advisors LLC now owns 15,838 shares of the bank’s stock worth $361,000 after acquiring an additional 14,521 shares during the last quarter. Finally, Odyssean LLC bought a new stake in Civista Bancshares during the second quarter worth approximately $431,000. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Price Performance

NASDAQ:CIVB opened at $28.47 on Friday. The business’s 50-day moving average is $27.26 and its 200 day moving average is $25.89. Civista Bancshares has a 12 month low of $21.10 and a 12 month high of $29.97. The company has a market capitalization of $591.89 million, a P/E ratio of 9.82 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. Civista Bancshares had a return on equity of 10.97% and a net margin of 21.82%. The business had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $48.78 million. On average, equities research analysts forecast that Civista Bancshares will post 2.91 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Tuesday, November 3rd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, November 3rd. Civista Bancshares’s dividend payout ratio (DPR) is presently 25.81%.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. The company operates primarily through its subsidiary, Civista Bank, a community-oriented institution that provides banking and financial services to individuals, families, businesses and agricultural customers.

Civista Bank offers deposit products, residential and commercial real estate loans, commercial and industrial financing, agricultural lending, consumer loans and other credit services. Its additional offerings include treasury management, online and mobile banking, wealth management, trust services, investment services and insurance solutions.

Through its branch network and other delivery channels, Civista serves customers in communities across Ohio, Indiana and Kentucky.