Analysts Anticipate Civista Bancshares, Inc. (CIVB) Will Post Quarterly Sales of $17.71 Million
Equities research analysts expect Civista Bancshares, Inc. (NASDAQ:CIVB) to post sales of $17.71 million for the current quarter, Zacks reports. Two analysts have made estimates for Civista Bancshares’ earnings, with the highest sales estimate coming in at $17.80 million and the lowest estimate coming in at $17.62 million. Civista Bancshares posted sales of $15.70 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.8%. The firm is scheduled to announce its next quarterly earnings report on Friday, January 26th.
On average, analysts expect that Civista Bancshares will report full-year sales of $17.71 million for the current year, with estimates ranging from $70.27 million to $70.50 million. For the next financial year, analysts expect that the company will post sales of $76.34 million per share, with estimates ranging from $76.10 million to $76.58 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Civista Bancshares.
Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $17.15 million for the quarter, compared to analyst estimates of $17.60 million. Civista Bancshares had a return on equity of 10.66% and a net margin of 21.56%.
A number of analysts have recently commented on CIVB shares. Boenning Scattergood set a $24.00 price objective on Civista Bancshares and gave the stock a “buy” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $24.00 price target on shares of Civista Bancshares in a research report on Sunday, July 30th. Zacks Investment Research cut shares of Civista Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $25.00 price target (up from $23.50) on shares of Civista Bancshares in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.38.
Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in Civista Bancshares by 42.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 71,364 shares of the bank’s stock worth $1,490,000 after purchasing an additional 21,209 shares during the period. Vanguard Group Inc. boosted its position in Civista Bancshares by 115.4% during the 1st quarter. Vanguard Group Inc. now owns 285,239 shares of the bank’s stock worth $6,321,000 after purchasing an additional 152,800 shares during the period. Wellington Management Group LLP purchased a new stake in Civista Bancshares during the 1st quarter worth $6,596,000. First Trust Advisors LP purchased a new position in Civista Bancshares in the 2nd quarter valued at about $332,000. Finally, Penn Capital Management Co. Inc. boosted its position in Civista Bancshares by 126.0% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 92,335 shares of the bank’s stock valued at $1,928,000 after buying an additional 51,482 shares during the last quarter. 41.61% of the stock is owned by hedge funds and other institutional investors.
Civista Bancshares (CIVB) traded down $0.57 during mid-day trading on Wednesday, hitting $22.23. The stock had a trading volume of 6,549 shares, compared to its average volume of 31,830. The firm has a market cap of $231.90, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.59. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57. Civista Bancshares has a 1-year low of $14.56 and a 1-year high of $23.75.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 17th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.26%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, October 16th. Civista Bancshares’s dividend payout ratio is 21.37%.
About Civista Bancshares
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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