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

Civista Bancshares, Inc. (NASDAQ:CIVB) has been given an average rating of “Hold” by the seven analysts that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $26.00.

A number of research firms have recently issued reports on CIVB. DA Davidson reissued a “buy” rating and set a $28.00 price target on shares of Civista Bancshares in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Civista Bancshares in a research note on Monday, December 29th. Hovde Group increased their target price on shares of Civista Bancshares from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Zacks Research raised shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Civista Bancshares from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, January 30th.

Civista Bancshares Stock Down 1.1%

Shares of NASDAQ CIVB opened at $22.33 on Friday. Civista Bancshares has a 52-week low of $17.47 and a 52-week high of $25.59. The firm has a market capitalization of $463.12 million, a price-to-earnings ratio of 8.39 and a beta of 0.68. The stock has a 50 day moving average price of $23.35 and a 200 day moving average price of $22.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. The company had revenue of $46.34 million for the quarter, compared to the consensus estimate of $45.43 million. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%. Sell-side analysts expect that Civista Bancshares will post 2.28 earnings per share for the current year.

Civista Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 10th. Civista Bancshares’s payout ratio is presently 27.07%.

Institutional Trading of Civista Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its holdings in shares of Civista Bancshares by 28.0% in the 1st quarter. AQR Capital Management LLC now owns 35,012 shares of the bank’s stock valued at $684,000 after acquiring an additional 7,652 shares during the period. Empowered Funds LLC lifted its stake in shares of Civista Bancshares by 22.7% during the 1st quarter. Empowered Funds LLC now owns 64,535 shares of the bank’s stock worth $1,261,000 after purchasing an additional 11,918 shares during the last quarter. Jane Street Group LLC bought a new stake in Civista Bancshares during the first quarter valued at about $453,000. Acadian Asset Management LLC boosted its position in Civista Bancshares by 15.1% during the first quarter. Acadian Asset Management LLC now owns 33,814 shares of the bank’s stock valued at $659,000 after purchasing an additional 4,426 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Civista Bancshares by 1.0% in the second quarter. Geode Capital Management LLC now owns 367,343 shares of the bank’s stock valued at $8,524,000 after purchasing an additional 3,754 shares during the last quarter. Institutional investors own 52.10% of the company’s stock.

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.