Civista Bancshares Inc (CIVB) Forecasted to Post FY2018 Earnings of $1.69 Per Share

Civista Bancshares Inc (NASDAQ:CIVB) – Equities research analysts at DA Davidson upped their FY2018 earnings estimates for Civista Bancshares in a report issued on Tuesday. DA Davidson analyst K. Reevey now expects that the bank will post earnings per share of $1.69 for the year, up from their previous estimate of $1.35. DA Davidson also issued estimates for Civista Bancshares’ FY2019 earnings at $1.78 EPS.

Several other research analysts have also recently issued reports on CIVB. Sandler O’Neill reaffirmed a “buy” rating and issued a $25.00 price target (up previously from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Zacks Investment Research raised shares of Civista Bancshares from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $27.00 target price on shares of Civista Bancshares in a report on Friday, January 26th. Boenning Scattergood reaffirmed a “buy” rating and set a $24.00 target price on shares of Civista Bancshares in a report on Monday. Finally, Hovde Group set a $24.00 target price on shares of Civista Bancshares and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.92.

Shares of Civista Bancshares (NASDAQ:CIVB) traded up $0.19 during trading on Thursday, reaching $22.32. The company had a trading volume of 9,488 shares, compared to its average volume of 18,949. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $229.16, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.92 and a beta of 0.55. Civista Bancshares has a 1 year low of $18.82 and a 1 year high of $23.76.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Friday, January 26th. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.10. Civista Bancshares had a return on equity of 10.18% and a net margin of 21.18%. The company had revenue of $18.19 million during the quarter, compared to the consensus estimate of $17.71 million.

A number of hedge funds and other institutional investors have recently bought and sold shares of CIVB. California State Teachers Retirement System bought a new stake in Civista Bancshares during the second quarter valued at approximately $367,000. Boston Partners purchased a new position in shares of Civista Bancshares during the third quarter worth approximately $1,492,000. Castine Capital Management LLC raised its stake in shares of 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 in the last quarter. Context BH Capital Management LP raised its stake in shares of Civista Bancshares by 9.7% during the third quarter. Context BH Capital Management LP now owns 57,380 shares of the bank’s stock worth $1,282,000 after acquiring an additional 5,062 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Civista Bancshares during the second quarter worth approximately $355,000. 43.76% of the stock is owned by hedge funds and other institutional investors.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 23rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Monday, January 22nd. Civista Bancshares’s dividend payout ratio is currently 21.54%.

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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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