Civista Bancshares (NASDAQ:CIVB) Price Target Raised to $21.00

Civista Bancshares (NASDAQ:CIVB) had its target price increased by Stephens from $18.00 to $21.00 in a report published on Wednesday, Benzinga reports. Stephens currently has an equal weight rating on the bank’s stock.

Several other analysts also recently commented on CIVB. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Finally, Piper Sandler increased their target price on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Civista Bancshares Stock Performance

NASDAQ CIVB opened at $20.36 on Wednesday. The company has a fifty day moving average of $17.69 and a two-hundred day moving average of $16.12. 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 has a 1 year low of $13.60 and a 1 year high of $20.93. The company has a market capitalization of $320.47 million, a PE ratio of 10.13 and a beta of 0.80.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. The firm had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. Civista Bancshares had a return on equity of 8.46% and a net margin of 13.12%. During the same period in the prior year, the firm earned $0.66 EPS. As a group, analysts expect that Civista Bancshares will post 1.76 earnings per share for the current year.

Civista Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, November 5th. Civista Bancshares’s dividend payout ratio is presently 31.84%.

Insider Transactions at Civista Bancshares

In other Civista Bancshares news, Director Julie A. Mattlin bought 2,000 shares of Civista Bancshares stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $15.60 per share, with a total value of $31,200.00. Following the completion of the acquisition, the director now owns 12,442 shares in the company, valued at $194,095.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.01% of the company’s stock.

Institutional Investors Weigh In On Civista Bancshares

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in Civista Bancshares by 2.6% during the second quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after buying an additional 619 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Civista Bancshares by 11.3% during the 1st quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank’s stock worth $370,000 after purchasing an additional 2,453 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Civista Bancshares by 5.4% during the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock worth $800,000 after purchasing an additional 2,650 shares during the last quarter. Empowered Funds LLC raised its position in shares of Civista Bancshares by 8.1% in the first 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. Finally, Quadrature Capital Ltd lifted its stake in shares of Civista Bancshares by 24.7% during the first quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock valued at $283,000 after buying an additional 3,672 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.

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.