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

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

A number of equities analysts recently weighed in on CIVB shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Piper Sandler raised their target price on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st.

Civista Bancshares Price Performance

NASDAQ CIVB opened at $17.51 on Friday. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $19.00. The company has a market capitalization of $275.38 million, a P/E ratio of 7.52 and a beta of 0.80. The company’s 50 day simple moving average is $16.94 and its 200 day simple moving average is $15.61. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.01 and a quick ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Monday, July 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $61.14 million for the quarter, compared to analysts’ expectations of $36.57 million. Civista Bancshares had a return on equity of 9.24% and a net margin of 14.48%. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts expect that Civista Bancshares will post 1.76 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.66%. The ex-dividend date was Tuesday, August 6th. Civista Bancshares’s dividend payout ratio is currently 27.47%.

Insiders Place Their Bets

In related news, Director Julie A. Mattlin acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $15.60 per share, with a total value of $31,200.00. Following the completion of the transaction, the director now owns 12,442 shares of the company’s stock, valued at approximately $194,095.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.01% of the company’s stock.

Institutional Trading of Civista Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Civista Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock worth $12,501,000 after buying an additional 8,797 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Civista Bancshares by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock worth $12,316,000 after purchasing an additional 6,234 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Civista Bancshares by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock worth $11,164,000 after purchasing an additional 5,400 shares during the last quarter. Summit Financial Strategies Inc. raised its holdings in shares of Civista Bancshares by 3.2% during the 2nd quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank’s stock valued at $2,306,000 after purchasing an additional 4,559 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Civista Bancshares by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock valued at $1,831,000 after purchasing an additional 4,284 shares during the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

About Civista Bancshares

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.