Civista Bancshares, Inc. (NASDAQ:CIVB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Civista Bancshares, Inc. (NASDAQ:CIVB) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $27.20.

A number of brokerages have recently issued reports on CIVB. Zacks Research upgraded shares of Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Wall Street Zen lowered shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Piper Sandler boosted their price target on shares of Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday.

Civista Bancshares Trading Down 0.2%

Shares of Civista Bancshares stock opened at $28.60 on Monday. Civista Bancshares has a 52-week low of $18.94 and a 52-week high of $28.86. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. The company’s 50-day simple moving average is $25.65 and its 200-day simple moving average is $24.11. The firm has a market cap of $594.29 million, a price-to-earnings ratio of 10.51 and a beta of 0.67.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. The business had revenue of $47.25 million for the quarter, compared to analyst estimates of $45.64 million. As a group, equities research analysts anticipate that Civista Bancshares will post 2.84 earnings per share for the current year.

Civista Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, May 5th. Civista Bancshares’s payout ratio is 26.47%.

Institutional Trading of Civista Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its holdings in Civista Bancshares by 57.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after buying an additional 481 shares in the last quarter. Federated Hermes Inc. boosted its holdings in 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 in the last quarter. Osaic Holdings Inc. boosted its holdings in Civista Bancshares by 628.2% during the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after buying an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Civista Bancshares by 111.4% during the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after buying an additional 2,107 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Civista Bancshares by 784.7% during the second quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock worth $111,000 after buying an additional 4,253 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

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.