Civista Bancshares, Inc. (NASDAQ:CIVB) Given Average Rating of “Hold” by Brokerages

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $26.00.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CIVB. Wellington Management Group LLP lifted its holdings in shares of Civista Bancshares by 1,092.1% during the third quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock worth $29,938,000 after buying an additional 1,350,409 shares in the last quarter. Endeavour Capital Advisors Inc. acquired a new position in shares of Civista Bancshares in the third quarter valued at about $11,134,000. Alliancebernstein L.P. increased its position in Civista Bancshares by 2,904.8% during the third quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank’s stock worth $7,220,000 after acquiring an additional 343,642 shares during the period. Royce & Associates LP acquired a new stake in Civista Bancshares in the 3rd quarter worth about $5,584,000. Finally, Vanguard Group Inc. raised its stake in Civista Bancshares by 19.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock worth $20,752,000 after purchasing an additional 166,049 shares in the last quarter. Institutional investors own 52.10% of the company’s stock.

Civista Bancshares Stock Down 1.3%

CIVB stock opened at $21.83 on Friday. Civista Bancshares has a 1-year low of $17.47 and a 1-year high of $25.59. The business’s 50 day simple moving average is $23.37 and its 200 day simple moving average is $22.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $452.65 million, a PE ratio of 8.20 and a beta of 0.68.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%.The business had revenue of $46.34 million during the quarter, compared to the consensus estimate of $45.43 million. As a group, research analysts anticipate that Civista Bancshares will post 2.28 EPS for the current year.

Civista Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were paid a $0.18 dividend. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 10th. This represents a $0.72 annualized dividend and a yield of 3.3%. Civista Bancshares’s dividend payout ratio is presently 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.