Civista Bancshares (NASDAQ:CIVB) Sets New 1-Year High – Still a Buy?

Civista Bancshares, Inc. (NASDAQ:CIVB)’s stock price reached a new 52-week high on Friday . The company traded as high as $28.34 and last traded at $28.42, with a volume of 9032 shares. The stock had previously closed at $27.91.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Piper Sandler boosted their price target on shares of Civista Bancshares from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Zacks Research raised shares of Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.20.

Civista Bancshares Trading Up 1.8%

The stock has a market capitalization of $590.55 million, a P/E ratio of 10.45 and a beta of 0.67. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $25.56 and a 200 day moving average price of $24.07.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%.The firm had revenue of $47.25 million during the quarter, compared to analysts’ expectations of $45.64 million. On average, research analysts forecast that Civista Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio is presently 26.47%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CIVB. NewEdge Advisors LLC raised its stake in shares of Civista Bancshares by 57.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after acquiring an additional 481 shares in the last quarter. Federated Hermes Inc. boosted its stake in Civista Bancshares by 306.6% in the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,015 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after purchasing an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Civista Bancshares by 111.4% in the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after purchasing an additional 2,107 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Civista Bancshares by 784.7% during the second quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock worth $111,000 after purchasing an additional 4,253 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

About Civista Bancshares

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.