Civista Bancshares, Inc. (NASDAQ:CIVB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Civista Bancshares, Inc. (NASDAQ:CIVB) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $30.25.

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 price target (up from $29.00) on shares of Civista Bancshares in a research report on Friday, July 24th. Piper Sandler upped their target price on shares of Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Wall Street Zen lowered Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Zacks Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th.

Hedge Funds Weigh In On Civista Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mendon Capital Advisors Corp lifted its stake in shares of Civista Bancshares by 38.3% during the 1st quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock worth $7,104,000 after buying an additional 86,390 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Civista Bancshares in the 1st quarter valued at about $433,000. Dimensional Fund Advisors LP raised its holdings in Civista Bancshares by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank’s stock valued at $21,658,000 after acquiring an additional 40,176 shares during the period. Segall Bryant & Hamill LLC bought a new position in Civista Bancshares in the 1st quarter valued at about $556,000. Finally, Knights of Columbus Asset Advisors LLC acquired a new stake in Civista Bancshares during the fourth quarter worth approximately $1,637,000. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Civista Bancshares Stock Down 0.5%

NASDAQ:CIVB opened at $28.36 on Tuesday. Civista Bancshares has a twelve month low of $19.67 and a twelve month high of $29.97. The firm has a market capitalization of $589.60 million, a price-to-earnings ratio of 10.50 and a beta of 0.66. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $28.09 and its two-hundred day moving average price is $25.49.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. Civista Bancshares had a return on equity of 10.65% and a net margin of 20.79%.The company had revenue of $47.60 million during the quarter, compared to the consensus estimate of $48.08 million. Equities research analysts expect that Civista Bancshares will post 2.83 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $0.72 annualized dividend and a yield of 2.5%. Civista Bancshares’s dividend payout ratio (DPR) is currently 26.67%.

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.