Analysts Set Civista Bancshares, Inc. (NASDAQ:CIVB) Target Price at $24.60

Civista Bancshares, Inc. (NASDAQ:CIVB) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $24.60.

A number of brokerages recently commented on CIVB. DA Davidson reaffirmed a “buy” rating and set a $26.00 price target on shares of Civista Bancshares in a research report on Friday, November 21st. Zacks Research raised Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods increased their price target on shares of Civista Bancshares from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $22.21 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $22.66 and a two-hundred day simple moving average of $21.67. Civista Bancshares has a 12 month low of $17.47 and a 12 month high of $25.59. The firm has a market capitalization of $428.88 million, a PE ratio of 8.29 and a beta of 0.70.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Wednesday, November 5th. The bank reported $0.71 earnings per share for the quarter. The firm had revenue of $44.18 million for the quarter. Civista Bancshares had a net margin of 17.42% and a return on equity of 10.20%. Analysts forecast that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Tuesday, November 4th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, November 4th. Civista Bancshares’s payout ratio is 25.37%.

Institutional Investors Weigh In On Civista Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in CIVB. Strategic Value Bank Partners LLC bought a new stake in Civista Bancshares during the third quarter valued at approximately $2,031,000. Assenagon Asset Management S.A. purchased a new stake in shares of Civista Bancshares during the 3rd quarter valued at $1,603,000. Janney Montgomery Scott LLC purchased a new stake in shares of Civista Bancshares during the 2nd quarter valued at $415,000. Bailard Inc. lifted its holdings in shares of Civista Bancshares by 19.4% during the 2nd quarter. Bailard Inc. now owns 21,526 shares of the bank’s stock worth $499,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Civista Bancshares in the second quarter worth $385,000. Hedge funds and other institutional investors own 52.10% of the company’s stock.

About Civista Bancshares

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.