Brokerages Set Civista Bancshares, Inc. (NASDAQ:CIVB) PT at $27.20

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $30.25.

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued 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 shares of Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Piper Sandler upped 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. Finally, DA Davidson upped 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.

Civista Bancshares Stock Down 1.2%

Civista Bancshares stock opened at $28.90 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93. Civista Bancshares has a 1-year low of $18.94 and a 1-year high of $29.67. The company has a market cap of $600.54 million, a PE ratio of 10.70 and a beta of 0.67. The stock’s 50 day moving average price is $27.40 and its 200 day moving average price is $24.99.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data 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 return on equity of 10.82% and a net margin of 20.79%.The firm had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $48.08 million. On average, sell-side analysts predict that Civista Bancshares will post 2.83 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. Civista Bancshares’s dividend payout ratio is currently 26.67%.

Hedge Funds Weigh In On Civista Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Civista Bancshares by 1,092.1% in the third quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock valued at $29,938,000 after buying an additional 1,350,409 shares in the last quarter. Vanguard Group Inc. grew its stake in Civista Bancshares by 19.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock valued at $20,752,000 after acquiring an additional 166,049 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Civista Bancshares by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank’s stock valued at $21,658,000 after acquiring an additional 40,176 shares during the last quarter. Geode Capital Management LLC increased its holdings in Civista Bancshares by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 462,583 shares of the bank’s stock valued at $10,281,000 after acquiring an additional 32,146 shares in the last quarter. Finally, State Street Corp increased its holdings in Civista Bancshares by 6.7% during the 4th quarter. State Street Corp now owns 411,500 shares of the bank’s stock valued at $9,144,000 after acquiring an additional 25,672 shares in the last quarter. 52.10% of the stock is owned by institutional investors and hedge funds.

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.