Civista Bancshares, Inc. (NASDAQ:CIVB) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) have earned an average rating of "Moderate Buy" from the five analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $24.80.

A number of research firms have recently commented on CIVB. DA Davidson set a $26.00 target price on Civista Bancshares and gave the company a "buy" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods raised their price objective on Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Stephens reduced their target price on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 29th. Piper Sandler lifted their price target on shares of Civista Bancshares from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Finally, Wall Street Zen lowered shares of Civista Bancshares from a "buy" rating to a "hold" rating in a report on Saturday, June 28th.

Civista Bancshares Price Performance

Shares of NASDAQ CIVB opened at $19.28 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $299.23 million, a price-to-earnings ratio of 7.62 and a beta of 0.73. The firm's 50 day simple moving average is $21.99 and its 200-day simple moving average is $21.28. Civista Bancshares has a 12 month low of $15.30 and a 12 month high of $25.59.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.66 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.03). The firm had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.07 million. Civista Bancshares had a net margin of 15.83% and a return on equity of 9.83%. Analysts expect that Civista Bancshares will post 2.28 EPS for the current year.

Civista Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, August 5th. Civista Bancshares's payout ratio is presently 26.88%.

Insider Transactions at Civista Bancshares

In other Civista Bancshares news, SVP Richard J. Dutton purchased 4,000 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were purchased at an average cost of $21.25 per share, for a total transaction of $85,000.00. Following the completion of the transaction, the senior vice president owned 4,000 shares of the company's stock, valued at $85,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nathan E. Weaks acquired 2,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of $19.88 per share, with a total value of $39,760.00. Following the acquisition, the director owned 8,283 shares in the company, valued at $164,666.04. The trade was a 31.83% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 14,242 shares of company stock valued at $298,003 in the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Civista Bancshares

A number of large investors have recently made changes to their positions in CIVB. CWM LLC raised its stake in Civista Bancshares by 43.7% during the first quarter. CWM LLC now owns 3,084 shares of the bank's stock worth $60,000 after purchasing an additional 938 shares during the period. GAMMA Investing LLC raised its position in shares of Civista Bancshares by 4,003.0% during the 1st quarter. GAMMA Investing LLC now owns 4,103 shares of the bank's stock valued at $80,000 after buying an additional 4,003 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Civista Bancshares by 103.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 5,120 shares of the bank's stock valued at $108,000 after buying an additional 2,609 shares during the period. Deutsche Bank AG lifted its holdings in Civista Bancshares by 77.0% in the fourth quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock valued at $162,000 after acquiring an additional 3,347 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Civista Bancshares by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank's stock worth $189,000 after acquiring an additional 1,960 shares during the period. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

About Civista Bancshares

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.

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