Civista Bancshares, Inc. (NASDAQ:CIVB) Given Average Recommendation of “Hold” by Brokerages

Civista Bancshares, Inc. (NASDAQ:CIVB) has received an average recommendation of “Hold” from the three brokerages that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $17.67.

Several brokerages recently weighed in on CIVB. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price objective (down previously from $21.00) on shares of Civista Bancshares in a research note on Wednesday. Hovde Group started coverage on Civista Bancshares in a research report on Monday, April 1st. They set a “market perform” rating and a $16.00 price objective for the company. TheStreet cut Civista Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. Stephens lowered their price target on shares of Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Finally, Piper Sandler started coverage on shares of Civista Bancshares in a research note on Wednesday, February 21st. They issued a “neutral” rating and a $18.00 price objective on the stock.

Civista Bancshares Price Performance

CIVB stock traded up $0.03 during trading on Wednesday, reaching $14.31. 6,039 shares of the company were exchanged, compared to its average volume of 28,046. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.96 and a quick ratio of 0.96. Civista Bancshares has a twelve month low of $13.99 and a twelve month high of $19.80. The company has a market capitalization of $224.52 million, a price-to-earnings ratio of 5.22 and a beta of 0.78. The company has a 50-day moving average of $14.88 and a two-hundred day moving average of $15.90.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.06). Civista Bancshares had a net margin of 19.85% and a return on equity of 12.26%. The firm had revenue of $58.63 million during the quarter, compared to analyst estimates of $38.01 million. During the same period in the prior year, the company earned $0.82 EPS. As a group, equities analysts predict that Civista Bancshares will post 2.05 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.16 per share. The ex-dividend date is Monday, May 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.47%. Civista Bancshares’s dividend payout ratio (DPR) is presently 23.36%.

Insider Activity at Civista Bancshares

In other news, SVP Michael D. Mulford bought 2,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $15.82 per share, with a total value of $31,640.00. Following the completion of the transaction, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $31,640. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Civista Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Civista Bancshares in the 3rd quarter valued at $104,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Civista Bancshares in the third quarter valued at about $160,000. Bank of New York Mellon Corp lifted its position in shares of Civista Bancshares by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 84,954 shares of the bank’s stock valued at $1,317,000 after purchasing an additional 3,178 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Civista Bancshares by 294.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock worth $38,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Watershed Asset Management L.L.C. bought a new stake in Civista Bancshares in the 3rd quarter worth about $229,000. Institutional investors and hedge funds own 52.10% of the company’s stock.

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.