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

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have earned an average recommendation of “Hold” from the four analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $18.25.

CIVB has been the subject of several research analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $19.00 price objective (up from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Piper Sandler increased their price objective on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Civista Bancshares Trading Up 0.5 %

NASDAQ:CIVB opened at $16.65 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.64. Civista Bancshares has a 1-year low of $13.60 and a 1-year high of $19.00. The firm has a market capitalization of $262.07 million, a price-to-earnings ratio of 7.15 and a beta of 0.80. The stock has a fifty day simple moving average of $16.53 and a 200 day simple moving average of $15.30.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Monday, July 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The firm had revenue of $61.14 million during the quarter, compared to the consensus estimate of $36.57 million. Civista Bancshares had a return on equity of 9.24% and a net margin of 14.48%. During the same period in the prior year, the business earned $0.64 EPS. Sell-side analysts forecast that Civista Bancshares will post 1.76 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Tuesday, August 6th. Civista Bancshares’s dividend payout ratio (DPR) is presently 27.47%.

Insider Transactions at Civista Bancshares

In related news, Director Julie A. Mattlin acquired 2,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $15.60 per share, with a total value of $31,200.00. Following the acquisition, the director now owns 12,442 shares in the company, valued at approximately $194,095.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in shares of Civista Bancshares by 41.1% during the 4th quarter. BNP Paribas Financial Markets now owns 18,660 shares of the bank’s stock valued at $344,000 after acquiring an additional 5,440 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Civista Bancshares during the 4th quarter valued at about $109,000. Empowered Funds LLC grew its holdings in Civista Bancshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock valued at $679,000 after buying an additional 3,325 shares during the last quarter. Vanguard Group Inc. grew its holdings in Civista Bancshares by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock valued at $12,501,000 after buying an additional 8,797 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Civista Bancshares by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock worth $11,164,000 after buying an additional 5,400 shares during the period. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.