Civista Bancshares (NASDAQ:CIVB) Reaches New 1-Year High – Time to Buy?

Civista Bancshares, Inc. (NASDAQ:CIVB) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.04 and last traded at $28.9370, with a volume of 151945 shares traded. The stock had previously closed at $28.22.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Piper Sandler lifted their target price on Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Finally, Zacks Research lowered Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.20.

Civista Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $601.31 million, a price-to-earnings ratio of 10.64 and a beta of 0.66. The firm’s 50-day moving average price is $25.92 and its two-hundred day moving average price is $24.21.

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

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio (DPR) is presently 26.47%.

Hedge Funds Weigh In On Civista Bancshares

Several large investors have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after acquiring an additional 481 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Civista Bancshares by 306.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,015 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Civista Bancshares by 628.2% during the 2nd quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after acquiring an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets lifted its stake 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 purchasing an additional 2,107 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Civista Bancshares by 784.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock valued at $111,000 after purchasing an additional 4,253 shares during the period. Institutional investors and hedge funds own 52.10% of the company’s stock.

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.