Wall Street brokerages forecast that Civista Bancshares Inc (NASDAQ:CIVB) will report $22.16 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Civista Bancshares’ earnings, with the lowest sales estimate coming in at $19.71 million and the highest estimate coming in at $24.60 million. Civista Bancshares reported sales of $17.15 million in the same quarter last year, which indicates a positive year-over-year growth rate of 29.2%. The business is expected to issue its next earnings report on Friday, October 26th.
According to Zacks, analysts expect that Civista Bancshares will report full year sales of $86.32 million for the current fiscal year, with estimates ranging from $83.44 million to $89.20 million. For the next year, analysts forecast that the firm will post sales of $103.19 million, with estimates ranging from $101.58 million to $104.80 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Civista Bancshares.
Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Friday, July 27th. The bank reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Civista Bancshares had a return on equity of 12.18% and a net margin of 22.09%. The business had revenue of $19.16 million during the quarter, compared to analysts’ expectations of $19.47 million.
CIVB has been the subject of a number of research analyst reports. Zacks Investment Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 27th. BidaskClub cut Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. Boenning Scattergood reissued a “buy” rating on shares of Civista Bancshares in a report on Monday, July 30th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $31.00 target price on shares of Civista Bancshares in a report on Monday, July 30th. Finally, Hovde Group reaffirmed a “hold” rating and issued a $26.00 price target on shares of Civista Bancshares in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $26.50.
Several large investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its holdings in shares of Civista Bancshares by 14.6% in the second quarter. California Public Employees Retirement System now owns 20,177 shares of the bank’s stock valued at $489,000 after purchasing an additional 2,567 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Civista Bancshares by 15.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,596 shares of the bank’s stock valued at $476,000 after purchasing an additional 2,596 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Civista Bancshares by 2.2% in the second quarter. Russell Investments Group Ltd. now owns 120,553 shares of the bank’s stock valued at $2,922,000 after purchasing an additional 2,613 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Civista Bancshares by 3.8% in the second quarter. Northern Trust Corp now owns 107,257 shares of the bank’s stock valued at $2,600,000 after purchasing an additional 3,925 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Civista Bancshares by 20.6% in the second quarter. First Trust Advisors LP now owns 24,734 shares of the bank’s stock valued at $600,000 after purchasing an additional 4,220 shares during the last quarter. 53.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Civista Bancshares stock opened at $23.36 on Friday. Civista Bancshares has a 12 month low of $20.41 and a 12 month high of $25.88. The company has a market cap of $259.96 million, a price-to-earnings ratio of 17.56, a PEG ratio of 1.75 and a beta of 0.42. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 1.05.
Civista Bancshares Company Profile
Civista Bancshares, Inc operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.
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