Civista Bancshares, Inc. (NASDAQ:CIVB) Receives $24.80 Consensus Target Price from Brokerages

Key Points

• Civista Bancshares, Inc. has received a consensus rating of "Moderate Buy" from five brokerages, with an average 1-year price target of $24.80.
• The company reported a quarterly EPS of $0.66, missing the consensus estimate, and also announced a quarterly dividend of $0.17 per share, yielding 3.5% annually.
• Recent insider activity includes significant purchases by executives, with over 14,000 shares acquired in the past three months, indicating confidence in the company's performance.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $24.80.

Several analysts recently issued reports on CIVB shares. Piper Sandler raised their target price on Civista Bancshares from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Wall Street Zen cut Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. DA Davidson set a $26.00 target price on Civista Bancshares and gave the stock a "buy" rating in a research note on Monday, July 14th. Stephens cut their target price on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods raised their target price on Civista Bancshares from $25.00 to $28.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th.

Insider Activity at Civista Bancshares

In related news, Director Darci L. Congrove acquired 1,250 shares of the stock in a transaction on Friday, July 11th. The stock was acquired at an average cost of $21.25 per share, for a total transaction of $26,562.50. Following the completion of the acquisition, the director directly owned 1,250 shares of the company's stock, valued at approximately $26,562.50. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard J. Dutton acquired 4,000 shares of the stock in a transaction on Friday, July 11th. The stock was bought at an average price of $21.25 per share, with a total value of $85,000.00. Following the completion of the acquisition, the senior vice president directly owned 4,000 shares of the company's stock, valued at $85,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 14,242 shares of company stock valued at $298,003. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Civista Bancshares

Large investors have recently made changes to their positions in the business. Nuveen Asset Management LLC lifted its holdings in shares of Civista Bancshares by 166.8% during the fourth quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank's stock valued at $1,950,000 after purchasing an additional 57,950 shares during the last quarter. Man Group plc purchased a new position in shares of Civista Bancshares during the fourth quarter valued at approximately $282,000. Lazard Asset Management LLC purchased a new position in shares of Civista Bancshares during the fourth quarter valued at approximately $263,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Civista Bancshares by 210.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank's stock valued at $3,152,000 after purchasing an additional 101,610 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Civista Bancshares by 23.3% during the fourth quarter. Ameriprise Financial Inc. now owns 36,861 shares of the bank's stock valued at $776,000 after purchasing an additional 6,968 shares during the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

Civista Bancshares Trading Up 1.1%

Shares of NASDAQ:CIVB traded up $0.21 on Friday, reaching $19.55. 8,115 shares of the company traded hands, compared to its average volume of 58,034. The business's 50-day simple moving average is $21.92 and its 200 day simple moving average is $21.27. Civista Bancshares has a 52 week low of $15.30 and a 52 week high of $25.59. The stock has a market capitalization of $377.51 million, a P/E ratio of 7.73 and a beta of 0.73. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35.

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

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $0.68 annualized dividend and a yield of 3.5%. Civista Bancshares's dividend payout ratio (DPR) is 26.88%.

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.