Civista Bancshares, Inc. (NASDAQ:CIVB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have received an average rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $30.25.

Several equities research analysts have issued reports on the stock. Zacks Research downgraded shares of Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Wall Street Zen downgraded shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Piper Sandler lifted their target price on shares of Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, July 27th. DA Davidson upped their price target on shares of Civista Bancshares from $31.00 to $33.00 and gave the stock 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 report on Wednesday, July 8th.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in Civista Bancshares by 57.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after acquiring an additional 481 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Civista Bancshares by 5.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock worth $179,000 after purchasing an additional 485 shares in the last quarter. Barclays PLC boosted its stake in shares of Civista Bancshares by 0.9% in the third quarter. Barclays PLC now owns 54,603 shares of the bank’s stock valued at $1,109,000 after purchasing an additional 498 shares during the period. Vista Investment Management grew its holdings in Civista Bancshares by 5.3% during the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock valued at $404,000 after purchasing an additional 915 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Civista Bancshares by 306.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,015 shares in the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

Civista Bancshares Stock Performance

NASDAQ CIVB opened at $27.44 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.95 and a quick ratio of 0.94. Civista Bancshares has a 1-year low of $19.82 and a 1-year high of $29.97. The firm has a market capitalization of $570.48 million, a P/E ratio of 10.16 and a beta of 0.65. The business’s 50-day simple moving average is $28.09 and its 200-day simple moving average is $25.90.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Thursday, July 23rd. The bank reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%. The firm had revenue of $47.60 million during the quarter, compared to the consensus estimate of $48.08 million. Equities analysts predict that Civista Bancshares will post 2.83 EPS for the current year.

Civista Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.72 annualized dividend and a dividend yield of 2.6%. Civista Bancshares’s dividend payout ratio is presently 26.67%.

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.