Civista Bancshares, Inc. (CIVB) Expected to Announce Earnings of $0.30 Per Share
Brokerages expect Civista Bancshares, Inc. (NASDAQ:CIVB) to post earnings per share of $0.30 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Civista Bancshares’ earnings. Civista Bancshares reported earnings of $0.33 per share during the same quarter last year, which suggests a negative year over year growth rate of 9.1%. The firm is expected to announce its next earnings results on Friday, January 26th.
According to Zacks, analysts expect that Civista Bancshares will report full-year earnings of $1.27 per share for the current year, with EPS estimates ranging from $1.26 to $1.27. For the next fiscal year, analysts anticipate that the company will report earnings of $1.37 per share, with EPS estimates ranging from $1.35 to $1.38. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Civista Bancshares.
Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Friday, October 27th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Civista Bancshares had a net margin of 21.56% and a return on equity of 10.66%. The business had revenue of $17.15 million for the quarter, compared to analyst estimates of $17.60 million.
CIVB has been the topic of several recent research reports. Sandler O’Neill reiterated a “buy” rating and set a $25.00 target price (up from $23.50) on shares of Civista Bancshares in a research report on Friday, October 6th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $24.00 price target on shares of Civista Bancshares in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Civista Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Boenning Scattergood set a $24.00 price target on shares of Civista Bancshares and gave the company a “buy” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $24.38.
Shares of Civista Bancshares (NASDAQ:CIVB) traded down $0.38 during trading on Monday, hitting $22.80. 14,652 shares of the stock traded hands, compared to its average volume of 29,981. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95. Civista Bancshares has a 1-year low of $14.56 and a 1-year high of $23.75. The firm has a market cap of $231.90, a price-to-earnings ratio of 17.40, a P/E/G ratio of 2.25 and a beta of 0.59.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 17th were given a $0.07 dividend. The ex-dividend date was Monday, October 16th. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 1.23%. Civista Bancshares’s payout ratio is 21.71%.
Large investors have recently added to or reduced their stakes in the business. FNY Partners Fund LP acquired a new position in Civista Bancshares in the first quarter valued at about $110,000. Cornerstone Capital Management Holdings LLC. acquired a new position in Civista Bancshares in the second quarter valued at about $124,000. JPMorgan Chase & Co. boosted its position in Civista Bancshares by 272.7% in the second quarter. JPMorgan Chase & Co. now owns 9,997 shares of the bank’s stock valued at $209,000 after buying an additional 7,315 shares in the last quarter. Keybank National Association OH acquired a new position in Civista Bancshares in the third quarter valued at about $213,000. Finally, Rhumbline Advisers acquired a new position in Civista Bancshares in the second quarter valued at about $216,000. Hedge funds and other institutional investors own 41.61% of the company’s stock.
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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