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

Civista Bancshares, Inc. (NASDAQ:CIVB) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $26.60.

A number of brokerages recently weighed in on CIVB. Hovde Group increased their price objective on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Piper Sandler increased their price objective on shares of Civista Bancshares from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods increased their price objective on shares of Civista Bancshares from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. DA Davidson reaffirmed a “buy” rating and set a $28.00 target price on shares of Civista Bancshares in a report on Friday, January 30th. Finally, Wall Street Zen raised shares of Civista Bancshares from a “hold” rating to a “buy” rating in a report on Saturday.

Civista Bancshares Stock Down 1.2%

Shares of Civista Bancshares stock opened at $24.22 on Friday. The company has a market cap of $503.36 million, a price-to-earnings ratio of 8.90 and a beta of 0.67. The company’s 50 day moving average is $23.55 and its 200 day moving average is $23.22. Civista Bancshares has a twelve month low of $18.94 and a twelve month high of $28.31. The company has a quick ratio of 0.95, a current ratio of 0.93 and a debt-to-equity ratio of 0.38.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $47.25 million for the quarter, compared to the consensus estimate of $45.64 million. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. Research analysts anticipate that Civista Bancshares will post 2.84 EPS for the current year.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, May 5th. Civista Bancshares’s dividend payout ratio is currently 26.47%.

Institutional Trading of Civista Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP increased its holdings in Civista Bancshares by 10.8% during the first quarter. Quantinno Capital Management LP now owns 41,371 shares of the bank’s stock valued at $943,000 after buying an additional 4,044 shares during the last quarter. Mendon Capital Advisors Corp increased its holdings in Civista Bancshares by 38.3% during the first quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock valued at $7,104,000 after buying an additional 86,390 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Civista Bancshares by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank’s stock valued at $21,658,000 after buying an additional 40,176 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Civista Bancshares by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 70,859 shares of the bank’s stock valued at $1,615,000 after buying an additional 1,891 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Civista Bancshares during the first quarter valued at approximately $433,000. 52.10% of the stock is owned by hedge funds and other institutional investors.

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.