Civista Bancshares (NASDAQ:CIVB) Announces Earnings Results, Beats Estimates By $0.02 EPS

Civista Bancshares (NASDAQ:CIVB) released its earnings results on Thursday. The bank reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02, FiscalAI reports. The firm had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $48.08 million. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%.

Civista Bancshares Price Performance

NASDAQ CIVB traded down $0.55 during trading on Thursday, reaching $27.62. 20,529 shares of the company traded hands, compared to its average volume of 101,279. Civista Bancshares has a 1-year low of $18.94 and a 1-year high of $29.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50 day moving average price is $26.92 and its two-hundred day moving average price is $24.71. The company has a market cap of $574.05 million, a price-to-earnings ratio of 10.16 and a beta of 0.67.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 14th. Civista Bancshares’s payout ratio is presently 26.47%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Civista Bancshares in a report on Wednesday, July 8th. Piper Sandler lifted their target price on Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Zacks Research lowered Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Wall Street Zen downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its holdings in shares of Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after buying an additional 481 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Civista Bancshares by 5.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock worth $179,000 after acquiring an additional 485 shares during the last quarter. Barclays PLC grew its holdings in Civista Bancshares by 0.9% during the 3rd quarter. Barclays PLC now owns 54,603 shares of the bank’s stock worth $1,109,000 after acquiring an additional 498 shares during the last quarter. Vista Investment Management increased its position in Civista Bancshares by 5.3% in the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock valued at $404,000 after acquiring an additional 915 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Civista Bancshares by 306.6% in the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after acquiring an additional 1,015 shares during the last quarter. 52.10% of the stock is owned by institutional investors.

About Civista Bancshares

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.