Civista Bancshares, Inc. (NASDAQ:CIVB) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts give Civista Bancshares a consensus "Hold" rating (four hold, three buy) with an average one‑year price target of $26.20; several firms have recently raised targets (Keefe to $28, DA Davidson buy at $28) while Piper Sandler started coverage at neutral $25.00.
• Civista beat last quarter's expectations, reporting $0.75 EPS vs. $0.61 consensus and $46.34M revenue vs. $45.43M, and raised its quarterly dividend to $0.18 (a 3.0% yield).
• The bank trades at a P/E of 9.0 with a market cap of about $590M, a return on equity of 10.48%, and roughly 52% of shares held by institutional investors.

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) have earned an average rating of "Hold" from the seven ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $26.20.

A number of research firms have commented on CIVB. Keefe, Bruyette & Woods raised their target price on Civista Bancshares from $27.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Piper Sandler assumed coverage on Civista Bancshares in a research note on Thursday, April 2nd. They set a "neutral" rating and a $25.00 price target for the company. DA Davidson reaffirmed a "buy" rating and set a $28.00 price target on shares of Civista Bancshares in a research note on Friday, January 30th. Hovde Group lifted their price target on Civista Bancshares from $23.00 to $26.00 and gave the stock a "market perform" rating in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Civista Bancshares in a research note on Monday, December 29th.

Civista Bancshares Price Performance

Civista Bancshares stock opened at $23.93 on Wednesday. Civista Bancshares has a one year low of $18.80 and a one year high of $25.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The business has a fifty day moving average of $23.33 and a two-hundred day moving average of $22.66. The company has a market cap of $590.11 million, a P/E ratio of 9.00 and a beta of 0.64.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its earnings results on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.14. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%.The company had revenue of $46.34 million during the quarter, compared to the consensus estimate of $45.43 million. As a group, analysts predict that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.18 per share. This is a boost from Civista Bancshares's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.72 annualized dividend and a dividend yield of 3.0%. Civista Bancshares's dividend payout ratio is presently 27.07%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of Civista Bancshares by 21.5% during the 4th quarter. Invesco Ltd. now owns 25,970 shares of the bank's stock worth $577,000 after buying an additional 4,589 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Civista Bancshares by 57.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank's stock worth $29,000 after buying an additional 481 shares during the last quarter. Vista Investment Management increased its position in Civista Bancshares by 5.3% during the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank's stock worth $404,000 after purchasing an additional 915 shares in the last quarter. AQR Capital Management LLC increased its position in Civista Bancshares by 48.4% during the 4th quarter. AQR Capital Management LLC now owns 125,835 shares of the bank's stock worth $2,796,000 after purchasing an additional 41,047 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Civista Bancshares by 12.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,423 shares of the bank's stock worth $254,000 after purchasing an additional 1,227 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company's stock.

About Civista Bancshares

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.

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