Civista Bancshares, Inc. (NASDAQ:CIVB – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $30.25.
Several analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a research note on Friday, October 2nd. Piper Sandler lifted their target price on shares of Civista Bancshares from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Civista Bancshares in a research note on Friday, July 24th. Zacks Research downgraded Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, DA Davidson raised their target price 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.
View Our Latest Stock Analysis on Civista Bancshares
Civista Bancshares Stock Down 0.1%
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, topping the consensus estimate of $0.67 by $0.02. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%. The firm had revenue of $47.60 million during the quarter, compared to analyst estimates of $48.08 million. As a group, research analysts forecast that Civista Bancshares will post 2.83 EPS for the current fiscal year.
Civista Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.7%. Civista Bancshares’s dividend payout ratio is presently 26.67%.
Hedge Funds Weigh In On Civista Bancshares
Several institutional investors have recently made changes to their positions in CIVB. Public Employees Retirement System of Ohio bought a new stake in shares of Civista Bancshares during the 2nd quarter worth approximately $85,000. Sequoia Financial Advisors LLC bought a new position in Civista Bancshares in the second quarter worth approximately $216,000. NewEdge Advisors LLC lifted its stake in shares of Civista Bancshares by 1,102.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,838 shares of the bank’s stock worth $361,000 after purchasing an additional 14,521 shares during the last quarter. Odyssean LLC bought a new stake in shares of Civista Bancshares in the 2nd quarter valued at about $431,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Civista Bancshares during the 1st quarter valued at $433,000. 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. It operates primarily through Civista Bank, a community banking institution that provides financial services to individuals, families, businesses and public-sector organizations.
Civista Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate, consumer, agricultural and commercial loans.
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