Civista Bancshares, Inc. (CIVB) Receives Consensus Rating of “Hold” from Brokerages
Civista Bancshares, Inc. (NASDAQ:CIVB) has earned an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $22.06.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Civista Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Boenning Scattergood set a $24.00 target price on shares of Civista Bancshares and gave the stock a “buy” rating in a research report on Friday, July 28th. Keefe, Bruyette & Woods restated a “buy” rating and set a $24.00 target price on shares of Civista Bancshares in a research report on Sunday, July 30th. Finally, DA Davidson restated a “neutral” rating and set a $24.50 target price on shares of Civista Bancshares in a research report on Tuesday, July 4th.
Civista Bancshares (CIVB) traded down 1.18% during mid-day trading on Friday, hitting $19.28. The company had a trading volume of 63,276 shares. The stock’s 50 day moving average price is $20.67 and its 200 day moving average price is $21.32. The firm has a market cap of $196.08 million, a P/E ratio of 14.31 and a beta of 0.47. Civista Bancshares has a 52-week low of $13.71 and a 52-week high of $23.75.
Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Friday, July 28th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by $0.04. Civista Bancshares had a return on equity of 11.19% and a net margin of 21.97%. The business had revenue of $17.47 million for the quarter, compared to the consensus estimate of $17.70 million. On average, equities research analysts predict that Civista Bancshares will post $1.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.24%. Civista Bancshares’s dividend payout ratio is currently 17.65%.
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In related news, Director Dennis E. Murray, Jr. purchased 2,000 shares of Civista Bancshares stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $21.38 per share, for a total transaction of $42,760.00. Following the completion of the acquisition, the director now owns 14,023 shares of the company’s stock, valued at approximately $299,811.74. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David A. Voight sold 5,884 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $20.78, for a total transaction of $122,269.52. The disclosure for this sale can be found here. Insiders have bought 4,050 shares of company stock valued at $82,998 in the last ninety days. Insiders own 4.79% of the company’s stock.
A number of large investors have recently bought and sold shares of CIVB. FNY Partners Fund LP acquired a new position in shares of Civista Bancshares during the first quarter worth about $110,000. JPMorgan Chase & Co. boosted its position in shares of Civista Bancshares by 272.7% in the second quarter. JPMorgan Chase & Co. now owns 9,997 shares of the bank’s stock worth $209,000 after buying an additional 7,315 shares in the last quarter. Keybank National Association OH acquired a new position in shares of Civista Bancshares during the first quarter worth about $211,000. Rhumbline Advisers acquired a new position in shares of Civista Bancshares during the second quarter worth about $216,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Civista Bancshares during the second quarter worth about $221,000. Institutional investors and hedge funds own 34.93% of the company’s stock.
Civista Bancshares Company Profile
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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