Civista Bancshares, Inc. (NASDAQ:CIVB) Receives $24.80 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 currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $24.60.

A number of brokerages have issued reports on CIVB. Hovde Group cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $22.00 target price for the company. in a research report on Monday, August 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Civista Bancshares in a research report on Friday. Wall Street Zen cut Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. DA Davidson raised Civista Bancshares to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Zacks Research raised Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th.

Civista Bancshares Trading Up 4.2%

Shares of NASDAQ CIVB opened at $22.18 on Wednesday. The stock has a market cap of $428.36 million, a price-to-earnings ratio of 8.28 and a beta of 0.73. The business has a 50 day simple moving average of $20.75 and a 200 day simple moving average of $21.39. Civista Bancshares has a 52 week low of $17.47 and a 52 week high of $25.59. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 0.99.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Thursday, October 23rd. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of ($123.87) million during the quarter, compared to analysts’ expectations of $43.63 million. Civista Bancshares had a return on equity of 10.86% and a net margin of 17.42%. On average, research analysts predict that Civista Bancshares will post 2.28 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 18th. Stockholders of record on Tuesday, November 4th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 4th. Civista Bancshares’s dividend payout ratio is currently 25.37%.

Insider Buying and Selling at Civista Bancshares

In other Civista Bancshares news, Director Nathan E. Weaks acquired 2,000 shares of Civista Bancshares stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $19.88 per share, with a total value of $39,760.00. Following the completion of the transaction, the director owned 8,283 shares of the company’s stock, valued at $164,666.04. The trade was a 31.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 3,500 shares of company stock valued at $69,085 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently modified their holdings of CIVB. GAMMA Investing LLC boosted its position in shares of Civista Bancshares by 4,003.0% in the first quarter. GAMMA Investing LLC now owns 4,103 shares of the bank’s stock valued at $80,000 after acquiring an additional 4,003 shares during the period. CWM LLC boosted its position in shares of Civista Bancshares by 43.7% in the first quarter. CWM LLC now owns 3,084 shares of the bank’s stock valued at $60,000 after acquiring an additional 938 shares during the period. Segall Bryant & Hamill LLC raised its stake in shares of Civista Bancshares by 33.9% in the first quarter. Segall Bryant & Hamill LLC now owns 112,887 shares of the bank’s stock valued at $2,206,000 after purchasing an additional 28,581 shares in the last quarter. Bailard Inc. acquired a new position in shares of Civista Bancshares in the first quarter valued at $352,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Civista Bancshares by 443.5% in the first quarter. PNC Financial Services Group Inc. now owns 11,979 shares of the bank’s stock valued at $234,000 after purchasing an additional 9,775 shares in the last quarter. 52.10% of the stock is owned by institutional investors.

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.