Civista Bancshares (NASDAQ:CIVB) Hits New 12-Month High – Here’s Why

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) hit a new 52-week high during trading on Monday . The company traded as high as $29.97 and last traded at $29.4130, with a volume of 5072 shares trading hands. The stock had previously closed at $29.06.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CIVB shares. Piper Sandler raised their price objective on shares of Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Wall Street Zen downgraded shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research lowered shares of Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. DA Davidson raised their price target on shares of Civista Bancshares from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.25.

Civista Bancshares Trading Up 0.6%

The firm has a market capitalization of $607.61 million, a PE ratio of 10.83 and a beta of 0.66. The firm’s fifty day moving average is $27.47 and its two-hundred day moving average is $25.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Thursday, July 23rd. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The company had revenue of $47.60 million during the quarter, compared to analyst estimates of $48.08 million. Civista Bancshares had a return on equity of 10.82% and a net margin of 20.79%. On average, equities analysts predict that Civista Bancshares, Inc. will post 2.83 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, August 4th. Civista Bancshares’s payout ratio is currently 26.67%.

Institutional Investors Weigh In On Civista Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mendon Capital Advisors Corp increased its position in shares of Civista Bancshares by 38.3% during the first quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock valued at $7,104,000 after buying an additional 86,390 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Civista Bancshares in the first quarter valued at approximately $433,000. Knights of Columbus Asset Advisors LLC purchased a new position in Civista Bancshares during the fourth quarter valued at approximately $1,637,000. Royce & Associates LP grew its stake in Civista Bancshares by 42.9% during the fourth quarter. Royce & Associates LP now owns 392,952 shares of the bank’s stock valued at $8,731,000 after acquiring an additional 117,994 shares in the last quarter. Finally, CWM LLC grew its stake in Civista Bancshares by 12.1% during the fourth quarter. CWM LLC now owns 8,249 shares of the bank’s stock valued at $183,000 after acquiring an additional 893 shares in the last quarter. Institutional investors own 52.10% of the company’s stock.

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.