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

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $24.60.

A number of analysts recently commented on CIVB shares. Keefe, Bruyette & Woods boosted their target price 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. Hovde Group cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $22.00 price target on the stock. in a report on Monday, August 18th. Stephens reduced their price objective on Civista Bancshares from $27.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Civista Bancshares in a report on Wednesday, October 8th. Finally, Zacks Research raised Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th.

Civista Bancshares Trading Down 0.9%

Shares of Civista Bancshares stock opened at $21.18 on Friday. The business has a fifty day simple moving average of $21.08 and a 200-day simple moving average of $21.56. Civista Bancshares has a fifty-two week low of $17.47 and a fifty-two week high of $25.59. The firm has a market cap of $409.05 million, a price-to-earnings ratio of 7.90 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.35.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Wednesday, November 5th. The bank reported $0.71 earnings per share (EPS) for the quarter. Civista Bancshares had a return on equity of 10.86% and a net margin of 17.42%.The firm had revenue of $44.18 million for the quarter. On average, equities analysts forecast that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Tuesday, November 4th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, November 4th. Civista Bancshares’s payout ratio is presently 25.37%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Civista Bancshares by 5.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock worth $179,000 after acquiring an additional 485 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Civista Bancshares by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 27,208 shares of the bank’s stock valued at $532,000 after purchasing an additional 497 shares during the last quarter. Barclays PLC lifted its stake in shares of Civista Bancshares by 0.9% in the 3rd quarter. Barclays PLC now owns 54,603 shares of the bank’s stock valued at $1,109,000 after purchasing an additional 498 shares during the last quarter. CWM LLC boosted its holdings in Civista Bancshares by 23.8% in the second quarter. CWM LLC now owns 3,819 shares of the bank’s stock worth $89,000 after purchasing an additional 735 shares in the last quarter. Finally, Park National Corp OH increased its position in Civista Bancshares by 3.5% during the second quarter. Park National Corp OH now owns 24,091 shares of the bank’s stock worth $559,000 after buying an additional 816 shares during the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

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.