Civista Bancshares, Inc. (NASDAQ:CIVB) Given Consensus Recommendation of “Hold” by Analysts

Civista Bancshares, Inc. (NASDAQ:CIVB) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $26.00.

CIVB has been the topic of a number of recent analyst reports. Hovde Group raised their price target on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a report on Friday, January 30th. Keefe, Bruyette & Woods raised their target price on shares of Civista Bancshares from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Zacks Research raised shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Finally, DA Davidson reissued a “buy” rating and issued a $28.00 price objective on shares of Civista Bancshares in a research report on Friday, January 30th.

Hedge Funds Weigh In On Civista Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its stake in Civista Bancshares by 57.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after purchasing an additional 481 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after buying an additional 1,015 shares during the period. Caldwell Trust Co acquired a new stake in shares of Civista Bancshares during the second quarter worth $32,000. Osaic Holdings Inc. grew its holdings in shares of Civista Bancshares by 628.2% during the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after buying an additional 2,783 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Civista Bancshares by 111.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock valued at $81,000 after acquiring an additional 2,107 shares during the period. 52.10% of the stock is owned by hedge funds and other institutional investors.

Civista Bancshares Trading Down 2.5%

Shares of NASDAQ:CIVB opened at $23.82 on Tuesday. Civista Bancshares has a 12-month low of $17.47 and a 12-month high of $25.59. The business’s fifty day simple moving average is $23.39 and its 200-day simple moving average is $22.07. The company has a market capitalization of $460.04 million, a PE ratio of 8.95 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.14. Civista Bancshares had a return on equity of 11.14% and a net margin of 18.12%.The firm had revenue of $46.34 million during the quarter, compared to analysts’ expectations of $45.43 million. As a group, equities research analysts predict that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be issued a $0.18 dividend. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, February 10th. Civista Bancshares’s dividend payout ratio is 27.07%.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.