Civista Bancshares, Inc. (NASDAQ:CIVB) Receives $26.60 Consensus Target Price from Analysts

Civista Bancshares, Inc. (NASDAQ:CIVB) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $26.60.

A number of equities research analysts have commented on CIVB shares. Piper Sandler increased their price objective on shares of Civista Bancshares from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Zacks Research raised shares of Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Wall Street Zen lowered shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday.

Civista Bancshares Stock Down 0.2%

Shares of NASDAQ:CIVB opened at $26.37 on Thursday. Civista Bancshares has a 12 month low of $18.94 and a 12 month high of $28.31. The company’s 50-day moving average price is $24.60 and its two-hundred day moving average price is $23.67. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. The firm has a market cap of $547.97 million, a P/E ratio of 9.69 and a beta of 0.67.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. The firm had revenue of $47.25 million for the quarter, compared to analyst estimates of $45.64 million. As a group, research analysts forecast that Civista Bancshares will post 2.84 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio (DPR) is 26.47%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. raised its position in shares of Civista Bancshares by 43.7% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 132,711 shares of the bank’s stock valued at $2,695,000 after acquiring an additional 40,376 shares during the period. Stieven Capital Advisors L.P. acquired a new stake in shares of Civista Bancshares in the 3rd quarter valued at approximately $2,234,000. Royce & Associates LP acquired a new stake in shares of Civista Bancshares in the 3rd quarter valued at approximately $5,584,000. EJF Capital LLC acquired a new stake in shares of Civista Bancshares in the 3rd quarter valued at approximately $1,763,000. Finally, Maltese Capital Management LLC raised its position in shares of Civista Bancshares by 93.2% in the 3rd quarter. Maltese Capital Management LLC now owns 284,000 shares of the bank’s stock valued at $5,768,000 after acquiring an additional 137,000 shares during the period. 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.