Civista Bancshares, Inc. (CIVB) Expected to Post Q2 2018 Earnings of $0.34 Per Share
Civista Bancshares, Inc. (NASDAQ:CIVB) – DA Davidson issued their Q2 2018 earnings per share estimates for shares of Civista Bancshares in a note issued to investors on Tuesday. DA Davidson analyst K. Reevey anticipates that the bank will earn $0.34 per share for the quarter. DA Davidson also issued estimates for Civista Bancshares’ Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.34 EPS and FY2019 earnings at $1.48 EPS.
Several other equities analysts have also commented on the stock. Sandler O’Neill reissued a “buy” rating and issued a $25.00 target price (up from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Zacks Investment Research lowered shares of Civista Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $24.00 target price on shares of Civista Bancshares in a report on Sunday, July 30th. Finally, Boenning Scattergood set a $24.00 target price on shares of Civista Bancshares and gave the company a “buy” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Civista Bancshares has an average rating of “Hold” and a consensus target price of $24.38.
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Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). The firm had revenue of $17.15 million during the quarter, compared to analyst estimates of $17.60 million. Civista Bancshares had a net margin of 21.56% and a return on equity of 10.66%.
A number of hedge funds have recently added to or reduced their stakes in CIVB. Wellington Management Group LLP bought a new position in Civista Bancshares in the 1st quarter valued at about $6,596,000. Vanguard Group Inc. boosted its stake in shares of Civista Bancshares by 115.4% in the 1st quarter. Vanguard Group Inc. now owns 285,239 shares of the bank’s stock valued at $6,321,000 after purchasing an additional 152,800 shares in the last quarter. State Street Corp acquired a new stake in shares of Civista Bancshares in the 2nd quarter valued at approximately $2,174,000. Northern Trust Corp boosted its stake in shares of Civista Bancshares by 523.2% in the 2nd quarter. Northern Trust Corp now owns 101,461 shares of the bank’s stock valued at $2,118,000 after purchasing an additional 85,180 shares in the last quarter. Finally, Penn Capital Management Co. Inc. boosted its stake in shares of 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 purchasing an additional 51,482 shares in the last quarter. 41.61% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 17th were issued a $0.07 dividend. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.24%. The ex-dividend date was Monday, October 16th. Civista Bancshares’s dividend payout ratio (DPR) is currently 21.37%.
Civista Bancshares Company Profile
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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