DA Davidson Comments on Civista Bancshares, Inc.’s FY2024 Earnings (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Stock analysts at DA Davidson cut their FY2024 earnings estimates for shares of Civista Bancshares in a report released on Thursday, May 2nd. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $1.75 per share for the year, down from their previous forecast of $2.10. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.91 per share.

Several other equities research analysts also recently issued reports on the company. Hovde Group assumed coverage on Civista Bancshares in a report on Monday, April 1st. They set a “market perform” rating and a $16.00 price target for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 price target (down previously from $21.00) on shares of Civista Bancshares in a research note on Wednesday, May 1st. Stephens lowered their price target on shares of Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. TheStreet cut Civista Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. Finally, Piper Sandler started coverage on Civista Bancshares in a research note on Wednesday, February 21st. They set a “neutral” rating and a $18.00 target price on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Civista Bancshares has a consensus rating of “Hold” and a consensus target price of $17.75.

Civista Bancshares Stock Performance

Shares of NASDAQ CIVB opened at $14.22 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $223.11 million, a P/E ratio of 6.10 and a beta of 0.79. Civista Bancshares has a 12 month low of $13.99 and a 12 month high of $19.80. The stock has a 50 day moving average of $14.82 and a 200-day moving average of $15.87.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Tuesday, April 30th. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The business had revenue of $58.63 million for the quarter, compared to the consensus estimate of $38.01 million. Civista Bancshares had a return on equity of 10.36% and a net margin of 16.38%. During the same quarter in the previous year, the business posted $0.82 EPS.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, May 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.50%. Civista Bancshares’s dividend payout ratio is presently 27.47%.

Insider Activity

In related news, SVP Michael D. Mulford purchased 2,000 shares of Civista Bancshares stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average price of $15.82 per share, with a total value of $31,640.00. Following the completion of the transaction, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $31,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Civista Bancshares

A number of large investors have recently bought and sold shares of CIVB. SG Americas Securities LLC bought a new stake in shares of Civista Bancshares during the 3rd quarter worth approximately $104,000. Raymond James Financial Services Advisors Inc. acquired a new position in Civista Bancshares during the third quarter valued at approximately $160,000. Bank of New York Mellon Corp lifted its stake in Civista Bancshares by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 84,954 shares of the bank’s stock worth $1,317,000 after purchasing an additional 3,178 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Civista Bancshares by 294.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock valued at $38,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Watershed Asset Management L.L.C. bought a new position in shares of Civista Bancshares in the 3rd quarter valued at $229,000. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.