Civista Bancshares, Inc. (CIVB) to Release Quarterly Earnings on Thursday
Civista Bancshares, Inc. (NASDAQ:CIVB) will be issuing its quarterly earnings data on Thursday, October 19th. Analysts expect the company to announce earnings of $0.29 per share for the quarter.
Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Friday, July 28th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.04). The company had revenue of $17.47 million during the quarter, compared to analysts’ expectations of $17.70 million. Civista Bancshares had a net margin of 21.97% and a return on equity of 11.19%. On average, analysts expect Civista Bancshares to post $1.27 EPS for the current fiscal year and $1.41 EPS for the next fiscal year.
Shares of Civista Bancshares, Inc. (CIVB) opened at 22.95 on Thursday. The firm has a 50-day moving average price of $21.17 and a 200 day moving average price of $20.95. Civista Bancshares, Inc. has a one year low of $14.15 and a one year high of $23.75. The stock has a market capitalization of $233.40 million, a PE ratio of 17.04 and a beta of 0.51.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, October 16th. Civista Bancshares’s payout ratio is 17.65%.
CIVB has been the subject of a number of analyst reports. DA Davidson reissued a “neutral” rating and issued a $24.50 price target on shares of Civista Bancshares in a report on Tuesday, July 4th. Boenning Scattergood set a $24.00 price target on Civista Bancshares and gave the stock a “buy” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $24.00 price target on shares of Civista Bancshares in a report on Sunday, July 30th. Zacks Investment Research cut Civista Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Sandler O’Neill reissued a “buy” rating and issued a $25.00 price target (up from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $22.65.
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A hedge fund recently bought a new stake in Civista Bancshares stock. State Street Corp purchased a new position in Civista Bancshares, Inc. (NASDAQ:CIVB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 104,138 shares of the bank’s stock, valued at approximately $2,174,000. State Street Corp owned about 1.02% of Civista Bancshares as of its most recent SEC filing. Hedge funds and other institutional investors own 42.33% 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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