Shares of Civista Bancshares, Inc. (NASDAQ:CIVB – Get Free Report) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $30.25.
A number of equities analysts have weighed in on CIVB shares. Zacks Research lowered Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. DA Davidson raised their target price on Civista Bancshares from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Piper Sandler lifted their price target 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 reaffirmed a “buy (b)” rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Finally, Wall Street Zen lowered shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th.
Check Out Our Latest Analysis on CIVB
Civista Bancshares Stock Up 0.2%
Civista Bancshares (NASDAQ:CIVB – Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%. The company had revenue of $47.60 million during the quarter, compared to the consensus estimate of $48.08 million. As a group, equities research analysts anticipate that Civista Bancshares will post 2.83 EPS for the current year.
Civista Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. Civista Bancshares’s dividend payout ratio is 26.67%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIVB. Bank of New York Mellon Corp raised its position in shares of Civista Bancshares by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 70,859 shares of the bank’s stock worth $1,615,000 after acquiring an additional 1,891 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Civista Bancshares during the 2nd quarter valued at about $85,000. Quantinno Capital Management LP increased its stake in shares of Civista Bancshares by 10.8% in the 1st quarter. Quantinno Capital Management LP now owns 41,371 shares of the bank’s stock valued at $943,000 after purchasing an additional 4,044 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Civista Bancshares by 6.0% in the 1st quarter. Empowered Funds LLC now owns 82,659 shares of the bank’s stock valued at $1,884,000 after purchasing an additional 4,667 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Civista Bancshares in the 2nd quarter valued at about $216,000. Hedge funds and other institutional investors own 52.10% of the company’s stock.
About Civista Bancshares
Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. Through its principal subsidiary, Civista Bank, the company provides community banking services to individuals, families, farmers and businesses.
Civista Bank offers deposit products, residential and commercial real estate lending, consumer loans, agricultural financing, and commercial loans. Its services also include treasury management, online and mobile banking, mortgage lending, trust and investment services, and insurance and financial planning solutions.
The bank traces its roots to the 19th century and has expanded through organic growth and acquisitions.
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