Brokerages Set Civista Bancshares, Inc. (NASDAQ:CIVB) Target Price at $24.80

Key Points

• Analysts have assigned Civista Bancshares, Inc. an average rating of "Hold", with three hold ratings and two buy ratings among five ratings firms covering the stock.
• The company recently declared a quarterly dividend of $0.17, translating to an annualized dividend of $0.68 and a yield of 3.2%.
• Civista Bancshares' shares have seen a 1.5% increase on the day, trading at $21.19, with a market cap of $409.18 million.

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) have received a consensus rating of "Hold" from the five research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $24.80.

CIVB has been the topic of a number of research reports. DA Davidson set a $26.00 price objective on Civista Bancshares and gave the stock a "buy" rating in a research note on Monday, July 14th. Stephens dropped their price objective on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday, July 29th. Hovde Group cut Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $22.00 target price for the company. in a report on Monday, August 18th. Finally, Wall Street Zen cut Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th.

Insider Buying and Selling

In related news, Director Darci L. Congrove bought 1,250 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were purchased at an average cost of $21.25 per share, with a total value of $26,562.50. Following the completion of the acquisition, the director directly owned 1,250 shares in the company, valued at approximately $26,562.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nathan E. Weaks purchased 2,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $19.88 per share, for a total transaction of $39,760.00. Following the transaction, the director directly owned 8,283 shares of the company's stock, valued at $164,666.04. This represents a 31.83% increase in their position. The disclosure for this purchase can be found here. Insiders bought 14,742 shares of company stock valued at $307,978 in the last three months. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Civista Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management increased its stake in Civista Bancshares by 377.8% during the second quarter. Ritholtz Wealth Management now owns 221,966 shares of the bank's stock worth $5,150,000 after acquiring an additional 175,514 shares during the last quarter. Nuveen LLC acquired a new position in shares of Civista Bancshares during the 1st quarter worth about $1,594,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Civista Bancshares by 318.4% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 92,335 shares of the bank's stock valued at $2,142,000 after purchasing an additional 70,264 shares during the last quarter. Nuveen Asset Management LLC increased its position in Civista Bancshares by 166.8% in the 4th quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank's stock valued at $1,950,000 after acquiring an additional 57,950 shares during the period. Finally, Millennium Management LLC acquired a new position in Civista Bancshares in the 4th quarter valued at about $1,059,000. Hedge funds and other institutional investors own 52.10% of the company's stock.

Civista Bancshares Stock Down 0.8%

Shares of NASDAQ CIVB traded down $0.17 during trading on Tuesday, reaching $21.02. The company had a trading volume of 87,558 shares, compared to its average volume of 76,710. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.35. Civista Bancshares has a 12-month low of $16.24 and a 12-month high of $25.59. The stock has a market cap of $405.96 million, a PE ratio of 8.31 and a beta of 0.76. The business's 50-day moving average is $21.24 and its 200 day moving average is $21.15.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.66 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.03). Civista Bancshares had a net margin of 15.83% and a return on equity of 9.77%. The business had revenue of $41.40 million for the quarter, compared to analysts' expectations of $43.07 million. As a group, equities analysts forecast that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, August 5th. Civista Bancshares's dividend payout ratio (DPR) is 26.88%.

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.