Brokerages predict that Civista Bancshares, Inc. (NASDAQ:CIVB) will post $17.71 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Civista Bancshares’ earnings, with the lowest sales estimate coming in at $17.62 million and the highest estimate coming in at $17.80 million. Civista Bancshares posted sales of $15.70 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.8%. The firm is expected to report its next earnings results on Friday, January 26th.
According to Zacks, analysts expect that Civista Bancshares will report full year sales of $17.71 million for the current financial year, with estimates ranging from $70.27 million to $70.50 million. For the next year, analysts anticipate that the company will report sales of $76.34 million per share, with estimates ranging from $76.10 million to $76.58 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Civista Bancshares.
Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). The company had revenue of $17.15 million for the quarter, compared to analyst estimates of $17.60 million. Civista Bancshares had a net margin of 21.56% and a return on equity of 10.32%.
Several equities analysts recently commented on CIVB shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $24.00 target price on shares of Civista Bancshares in a research note on Sunday, July 30th. Boenning Scattergood set a $24.00 price target on shares of Civista Bancshares and gave the company a “buy” rating in a report on Friday, July 28th. Sandler O’Neill reissued a “buy” rating and issued a $25.00 price target (up previously from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Finally, Zacks Investment Research raised shares of Civista Bancshares from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Civista Bancshares presently has a consensus rating of “Hold” and an average target price of $24.38.
Civista Bancshares (NASDAQ:CIVB) traded down $0.41 during trading hours on Tuesday, reaching $22.17. 8,820 shares of the company traded hands, compared to its average volume of 42,566. The firm has a market cap of $229.66, a PE ratio of 17.24, a P/E/G ratio of 2.23 and a beta of 0.59. Civista Bancshares has a 1 year low of $15.28 and a 1 year high of $23.75. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 17th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.26%. The ex-dividend date was Monday, October 16th. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.06. Civista Bancshares’s payout ratio is 21.37%.
A number of institutional investors have recently made changes to their positions in CIVB. Bank of New York Mellon Corp bought a new stake in Civista Bancshares in the 1st quarter valued at $267,000. Vanguard Group Inc. increased its holdings in Civista Bancshares by 115.4% in the 1st quarter. Vanguard Group Inc. now owns 285,239 shares of the bank’s stock valued at $6,321,000 after buying an additional 152,800 shares during the period. Geode Capital Management LLC increased its holdings in Civista Bancshares by 35.7% in the 1st quarter. Geode Capital Management LLC now owns 44,830 shares of the bank’s stock valued at $993,000 after buying an additional 11,804 shares during the period. Dimensional Fund Advisors LP increased its holdings in Civista Bancshares by 74.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 27,657 shares of the bank’s stock valued at $613,000 after buying an additional 11,786 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Civista Bancshares by 6.8% in the 1st quarter. Renaissance Technologies LLC now owns 209,300 shares of the bank’s stock valued at $4,638,000 after buying an additional 13,300 shares during the period. 44.10% of the stock is currently owned by hedge funds and other institutional investors.
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About Civista Bancshares
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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