Civista Bancshares Inc (CIVB) Expected to Post Quarterly Sales of $19.47 Million

Equities analysts expect Civista Bancshares Inc (NASDAQ:CIVB) to report sales of $19.47 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Civista Bancshares’ earnings, with estimates ranging from $19.00 million to $19.95 million. Civista Bancshares posted sales of $18.03 million during the same quarter last year, which suggests a positive year over year growth rate of 8%. The business is scheduled to report its next quarterly earnings results on Friday, January 26th.

On average, analysts expect that Civista Bancshares will report full year sales of $19.47 million for the current year, with estimates ranging from $76.10 million to $76.58 million. For the next year, analysts expect that the company will post sales of $81.92 million per share, with estimates ranging from $80.70 million to $83.15 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Civista Bancshares.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Friday, October 27th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). Civista Bancshares had a return on equity of 10.32% and a net margin of 21.56%. The firm had revenue of $17.15 million during the quarter, compared to the consensus estimate of $17.60 million.

Several equities research analysts have recently issued reports on the company. Sandler O’Neill reaffirmed a “buy” rating and issued a $25.00 target price (up from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. ValuEngine cut Civista Bancshares from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 30th. Zacks Investment Research raised Civista Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $27.00 target price on shares of Civista Bancshares in a report on Friday. Finally, Hovde Group set a $24.00 target price on Civista Bancshares and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $24.92.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Civista Bancshares by 33.0% during the second quarter. Vanguard Group Inc. now owns 379,286 shares of the bank’s stock worth $7,920,000 after acquiring an additional 94,047 shares during the last quarter. Castine Capital Management LLC increased its stake in Civista Bancshares by 45.8% during the third quarter. Castine Capital Management LLC now owns 334,843 shares of the bank’s stock worth $7,480,000 after acquiring an additional 105,228 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Civista Bancshares by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 212,328 shares of the bank’s stock worth $4,434,000 after acquiring an additional 15,690 shares during the last quarter. State Street Corp bought a new stake in Civista Bancshares during the second quarter worth approximately $2,174,000. Finally, Russell Investments Group Ltd. increased its stake in Civista Bancshares by 43.5% during the third quarter. Russell Investments Group Ltd. now owns 102,387 shares of the bank’s stock worth $2,288,000 after acquiring an additional 31,023 shares during the last quarter. 43.77% of the stock is currently owned by institutional investors.

Shares of Civista Bancshares (NASDAQ CIVB) opened at $21.84 on Monday. Civista Bancshares has a twelve month low of $18.82 and a twelve month high of $23.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $222.13, a PE ratio of 17.33, a PEG ratio of 1.88 and a beta of 0.55.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 23rd will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, January 22nd. This represents a $0.28 annualized dividend and a yield of 1.28%. Civista Bancshares’s payout ratio is currently 22.22%.

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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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