Civista Bancshares Inc. (CIVB) Given $14.25 Average Target Price by Analysts
Shares of Civista Bancshares Inc. (NASDAQ:CIVB) have been assigned an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.
Brokerages have set a 1 year consensus price objective of $14.25 for the company, according to Zacks. Zacks has also assigned Civista Bancshares an industry rank of 170 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Civista Bancshares from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Monday, July 25th. Hovde Group reduced their price target on shares of Civista Bancshares from $15.25 to $14.50 and set a “market perform” rating on the stock in a research note on Monday, July 25th.
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Civista Bancshares (NASDAQ:CIVB) traded up 0.20% on Tuesday, hitting $14.80. 1,406 shares of the stock traded hands. The stock has a 50-day moving average price of $14.50 and a 200 day moving average price of $12.90. The company has a market cap of $118.80 million, a price-to-earnings ratio of 9.89 and a beta of 0.65. Civista Bancshares has a 1-year low of $9.75 and a 1-year high of $15.16.
Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Civista Bancshares had a net margin of 23.86% and a return on equity of 13.94%. On average, analysts anticipate that Civista Bancshares will post $1.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be issued a $0.06 dividend. The ex-dividend date is Friday, October 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.62%. Civista Bancshares’s dividend payout ratio (DPR) is presently 16.11%.
In related news, Director Thomas A. Depler sold 4,002 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $14.31, for a total value of $57,268.62. Following the completion of the transaction, the director now owns 10,294 shares in the company, valued at approximately $147,307.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 4.94% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. raised its position in shares of Civista Bancshares by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 35,942 shares of the company’s stock worth $371,000 after buying an additional 421 shares during the period. Renaissance Technologies LLC raised its position in shares of Civista Bancshares by 17.2% in the first quarter. Renaissance Technologies LLC now owns 62,000 shares of the company’s stock worth $639,000 after buying an additional 9,100 shares during the period. Pinnacle Holdings LLC raised its position in shares of Civista Bancshares by 23.0% in the first quarter. Pinnacle Holdings LLC now owns 52,972 shares of the company’s stock worth $546,000 after buying an additional 9,910 shares during the period. HL Financial Services LLC acquired a new position in shares of Civista Bancshares during the second quarter worth about $172,000. Finally, Bridgeway Capital Management Inc. raised its position in shares of Civista Bancshares by 51.6% in the second quarter. Bridgeway Capital Management Inc. now owns 19,100 shares of the company’s stock worth $250,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds own 11.60% of the company’s stock.
About Civista Bancshares
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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