Civista Bancshares, Inc. (NASDAQ:CIVB) Receives Average Rating of “Hold” from Analysts

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $26.00.

CIVB has been the topic of several research reports. Hovde Group upped their price target on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Zacks Research downgraded shares of Civista Bancshares from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on shares of Civista Bancshares from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, DA Davidson reiterated a “buy” rating and issued a $28.00 price target on shares of Civista Bancshares in a research note on Friday, January 30th.

Civista Bancshares Stock Up 0.4%

Shares of CIVB opened at $24.87 on Friday. The firm has a market cap of $480.24 million, a P/E ratio of 9.35 and a beta of 0.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.96. Civista Bancshares has a 52 week low of $17.47 and a 52 week high of $25.59. The firm’s 50-day simple moving average is $23.23 and its 200 day simple moving average is $21.71.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.14. The company had revenue of $46.34 million during the quarter, compared to analysts’ expectations of $45.43 million. Civista Bancshares had a return on equity of 11.14% and a net margin of 18.12%. On average, analysts forecast that Civista Bancshares will post 2.28 earnings per share for the current year.

Civista Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, February 10th. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.17. Civista Bancshares’s dividend payout ratio is currently 25.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CIVB. Federated Hermes Inc. grew its stake in Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after buying an additional 1,015 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of Civista Bancshares during the 2nd quarter worth approximately $32,000. Osaic Holdings Inc. increased its stake in Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after acquiring an additional 2,783 shares during the last quarter. CWM LLC raised its position in Civista Bancshares by 23.8% during the second quarter. CWM LLC now owns 3,819 shares of the bank’s stock valued at $89,000 after purchasing an additional 735 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Civista Bancshares by 111.4% during the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock valued at $81,000 after purchasing an additional 2,107 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Company Profile

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.