Civista Bancshares (NASDAQ:CIVB) Releases Earnings Results, Beats Estimates By $0.02 EPS

Civista Bancshares (NASDAQ:CIVB) announced its quarterly earnings results on Thursday. The bank reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02, FiscalAI reports. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%.The company had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $48.08 million.

Civista Bancshares Stock Down 3.5%

Shares of NASDAQ CIVB opened at $27.61 on Thursday. Civista Bancshares has a 52-week low of $18.94 and a 52-week high of $29.38. The company’s 50 day moving average price is $26.92 and its 200-day moving average price is $24.71. The company has a market capitalization of $573.84 million, a P/E ratio of 10.11 and a beta of 0.67. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, August 14th. This represents a $0.72 annualized dividend and a yield of 2.6%. Civista Bancshares’s dividend payout ratio (DPR) is presently 26.47%.

Wall Street Analyst Weigh In

CIVB has been the subject of a number of recent research reports. Zacks Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Piper Sandler upped their price objective on Civista Bancshares from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a research report on Wednesday, July 8th. Finally, Wall Street Zen lowered shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.20.

Institutional Trading of Civista Bancshares

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its position in shares of Civista Bancshares by 57.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after purchasing an additional 481 shares in the last quarter. Federated Hermes Inc. grew its position in Civista Bancshares by 306.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares in the last quarter. Osaic Holdings Inc. increased its stake in Civista Bancshares by 628.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after buying an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Civista Bancshares by 111.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock valued at $81,000 after buying an additional 2,107 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Civista Bancshares by 784.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock worth $111,000 after buying an additional 4,253 shares in the last quarter. Institutional investors 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.