Civista Bancshares, Inc. (NASDAQ:CIVB) Receives Average Rating of “Moderate Buy” from Analysts

Civista Bancshares, Inc. (NASDAQ:CIVB) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $26.60.

Several equities research analysts have issued reports on the company. Zacks Research raised Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Piper Sandler raised their target price on Civista Bancshares from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Wall Street Zen raised Civista Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th.

Institutional Investors Weigh In On Civista Bancshares

A number of institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in shares of Civista Bancshares by 1,102.6% during the first quarter. NewEdge Advisors LLC now owns 15,838 shares of the bank’s stock valued at $361,000 after acquiring an additional 14,521 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Civista Bancshares during the first quarter valued at about $556,000. Empowered Funds LLC increased its position in shares of Civista Bancshares by 6.0% during the first quarter. Empowered Funds LLC now owns 82,659 shares of the bank’s stock valued at $1,884,000 after acquiring an additional 4,667 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Civista Bancshares by 10.8% in the first quarter. Quantinno Capital Management LP now owns 41,371 shares of the bank’s stock valued at $943,000 after buying an additional 4,044 shares in the last quarter. Finally, Mendon Capital Advisors Corp grew its stake in shares of Civista Bancshares by 38.3% in the first quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock valued at $7,104,000 after buying an additional 86,390 shares in the last quarter. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Civista Bancshares Price Performance

Civista Bancshares stock opened at $25.21 on Thursday. Civista Bancshares has a 12-month low of $18.94 and a 12-month high of $28.31. The stock has a market cap of $523.86 million, a P/E ratio of 9.27 and a beta of 0.67. The company has a 50-day moving average price of $24.38 and a 200 day moving average price of $23.57. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. The firm had revenue of $47.25 million during the quarter, compared to analysts’ expectations of $45.64 million. Sell-side analysts anticipate that Civista Bancshares will post 2.84 earnings per share for the current year.

Civista Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.9%. Civista Bancshares’s dividend payout ratio (DPR) is currently 26.47%.

About Civista Bancshares

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.