Civista Bancshares (NASDAQ:CIVB – Free Report) had its target price boosted by DA Davidson from $31.00 to $33.00 in a research report report published on Monday morning, Marketbeat Ratings reports. DA Davidson currently has a buy rating on the bank’s stock.
CIVB has been the topic of a number of other research reports. Zacks Research downgraded Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Wall Street Zen lowered Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Civista Bancshares in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Civista Bancshares in a research report on Friday, July 24th. Finally, Piper Sandler boosted their target price on shares of Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Civista Bancshares has a consensus rating of “Moderate Buy” and an average price target of $30.25.
Check Out Our Latest Stock Analysis on Civista Bancshares
Civista Bancshares Stock Performance
Civista Bancshares (NASDAQ:CIVB – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $48.08 million. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.82%. Analysts expect that Civista Bancshares will post 2.83 EPS for the current fiscal year.
Civista Bancshares Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, August 4th. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. Civista Bancshares’s dividend payout ratio is 26.67%.
Hedge Funds Weigh In On Civista Bancshares
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Civista Bancshares by 1,092.1% during the third quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock worth $29,938,000 after purchasing an additional 1,350,409 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Civista Bancshares by 2,904.8% during the 3rd quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank’s stock worth $7,220,000 after buying an additional 343,642 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Civista Bancshares by 19.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock worth $20,752,000 after buying an additional 166,049 shares during the last quarter. Royce & Associates LP boosted its position in shares of Civista Bancshares by 42.9% during the 4th quarter. Royce & Associates LP now owns 392,952 shares of the bank’s stock worth $8,731,000 after acquiring an additional 117,994 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Civista Bancshares by 126.9% in the 3rd quarter. UBS Group AG now owns 210,739 shares of the bank’s stock valued at $4,280,000 after acquiring an additional 117,855 shares during the last quarter. 52.10% of the stock is owned by institutional investors and hedge funds.
Civista Bancshares Company Profile
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.
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