Civista Bancshares, Inc. Forecasted to Earn FY2022 Earnings of $2.24 Per Share (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Research analysts at Boenning Scattergood raised their FY2022 EPS estimates for shares of Civista Bancshares in a research report issued on Wednesday, January 12th. Boenning Scattergood analyst D. Cardenas now expects that the bank will post earnings per share of $2.24 for the year, up from their prior forecast of $2.21. Boenning Scattergood also issued estimates for Civista Bancshares’ FY2023 earnings at $2.55 EPS.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Tuesday, October 26th. The bank reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $30.86 million during the quarter, compared to analyst estimates of $30.90 million. Civista Bancshares had a net margin of 29.43% and a return on equity of 11.35%. During the same period in the previous year, the business earned $0.48 EPS.

CIVB has been the subject of a number of other reports. Zacks Investment Research lowered shares of Civista Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, January 3rd. DA Davidson reiterated a “buy” rating on shares of Civista Bancshares in a research report on Wednesday.

CIVB opened at $25.03 on Thursday. The company has a fifty day moving average price of $24.61 and a 200-day moving average price of $23.73. The firm has a market capitalization of $376.10 million, a P/E ratio of 9.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.90. Civista Bancshares has a one year low of $16.46 and a one year high of $25.94.

A number of large investors have recently made changes to their positions in CIVB. Kestrel Investment Management Corp purchased a new position in Civista Bancshares in the second quarter worth $1,443,000. Dimensional Fund Advisors LP boosted its position in Civista Bancshares by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 544,026 shares of the bank’s stock valued at $12,023,000 after buying an additional 51,555 shares during the period. Monarch Partners Asset Management LLC boosted its position in Civista Bancshares by 32.9% during the third quarter. Monarch Partners Asset Management LLC now owns 115,549 shares of the bank’s stock valued at $2,684,000 after buying an additional 28,597 shares during the period. Millennium Management LLC boosted its position in Civista Bancshares by 145.0% during the third quarter. Millennium Management LLC now owns 47,205 shares of the bank’s stock valued at $1,097,000 after buying an additional 27,937 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Civista Bancshares by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 523,984 shares of the bank’s stock valued at $11,580,000 after buying an additional 18,087 shares during the period. Institutional investors own 52.44% of the company’s stock.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company, which engages in the community banking business. It provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland. The firm’s primary deposit products are checking, savings, and term certificate accounts, and its lending products are residential mortgage, commercial and installment loans.

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Earnings History and Estimates for Civista Bancshares (NASDAQ:CIVB)

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