Civista Bancshares, Inc. (NASDAQ:CIVB) Stock Has Consensus Target Price of $30.25 According to Brokerages

Civista Bancshares, Inc. (NASDAQ:CIVB) has earned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.25.

CIVB has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on Civista Bancshares from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Piper Sandler boosted their price objective on Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 target price (up from $29.00) on shares of Civista Bancshares in a research report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Civista Bancshares in a research note on Friday, October 2nd.

Civista Bancshares Stock Performance

Shares of NASDAQ:CIVB opened at $28.36 on Friday. The company’s 50 day simple moving average is $27.32 and its 200 day simple moving average is $25.97. The stock has a market capitalization of $589.60 million, a price-to-earnings ratio of 10.16 and a beta of 0.65. 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 $21.10 and a 1 year high of $29.97.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Thursday, October 22nd. The bank reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. Civista Bancshares had a net margin of 21.82% and a return on equity of 10.97%. The business had revenue of $49.08 million during the quarter, compared to the consensus estimate of $48.78 million. As a group, research analysts predict that Civista Bancshares will post 2.91 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Tuesday, November 3rd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, November 3rd. Civista Bancshares’s dividend payout ratio is presently 25.81%.

Institutional Trading of Civista Bancshares

Several large investors have recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC grew its holdings in Civista Bancshares by 0.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 116,941 shares of the bank’s stock worth $3,085,000 after purchasing an additional 548 shares during the period. Keybank National Association OH increased its stake in Civista Bancshares by 16.9% in the third quarter. Keybank National Association OH now owns 8,359 shares of the bank’s stock valued at $221,000 after purchasing an additional 1,209 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Civista Bancshares by 7.8% during the third quarter. Sterling Capital Management LLC now owns 10,504 shares of the bank’s stock valued at $277,000 after purchasing an additional 764 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Civista Bancshares during the second quarter valued at about $216,000. Finally, Odyssean LLC acquired a new position in shares of Civista Bancshares during the second quarter valued at about $431,000. Institutional investors and hedge funds own 52.10% of the company’s stock.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. The company operates primarily through its subsidiary, Civista Bank, a community-oriented institution that provides banking and financial services to individuals, families, businesses and agricultural customers.

Civista Bank offers deposit products, residential and commercial real estate loans, commercial and industrial financing, agricultural lending, consumer loans and other credit services. Its additional offerings include treasury management, online and mobile banking, wealth management, trust services, investment services and insurance solutions.

Through its branch network and other delivery channels, Civista serves customers in communities across Ohio, Indiana and Kentucky.