Civista Bancshares, Inc. (NASDAQ:CIVB) Receives Average Rating of "Hold" from Analysts

Key Points

• Civista Bancshares, Inc. has received a consensus rating of "Hold" from analysts, with three recommending hold and two suggesting a buy.
• The stock is currently trading at approximately $20.66, with a 12-month target price averaging $24.80 among brokerages.
• Civista Bancshares announced a quarterly dividend of $0.17 per share, resulting in an annualized yield of 3.3%.

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) have been given a consensus rating of "Hold" by the five ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages 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. Stephens cut their target price on shares of Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 29th. Wall Street Zen cut shares of 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 shares of Civista Bancshares and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Hovde Group lowered shares of Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $22.00 price target for the company. in a report on Monday, August 18th.

Civista Bancshares Price Performance

Civista Bancshares stock opened at $20.66 on Friday. The firm has a 50-day moving average price of $20.49 and a 200-day moving average price of $21.21. The firm has a market capitalization of $398.94 million, a PE ratio of 8.17 and a beta of 0.76. 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 has a 12-month low of $17.00 and a 12-month high of $25.59.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released 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 firm 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 research analysts forecast that Civista Bancshares will post 2.28 EPS for the current year.

Civista Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.68 dividend on an annualized basis and a yield of 3.3%. Civista Bancshares's dividend payout ratio is presently 26.88%.

Insider Buying and Selling at Civista Bancshares

In other Civista Bancshares news, Director Nathan E. Weaks purchased 2,000 shares of Civista Bancshares stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of $19.88 per share, with a total value of $39,760.00. Following the completion of the transaction, the director owned 8,283 shares of the company's stock, valued at $164,666.04. This trade represents a 31.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Darci L. Congrove purchased 1,250 shares of the company's stock in a transaction on Friday, July 11th. The stock was bought at an average price of $21.25 per share, for a total transaction of $26,562.50. Following the completion of the purchase, the director directly owned 1,250 shares of the company's stock, valued at $26,562.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 14,742 shares of company stock worth $307,978 over the last ninety days. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Civista Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its stake in shares of Civista Bancshares by 23.3% during the 4th quarter. Ameriprise Financial Inc. now owns 36,861 shares of the bank's stock worth $776,000 after buying an additional 6,968 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Civista Bancshares by 10.2% in the 4th quarter. Bank of America Corp DE now owns 34,206 shares of the bank's stock valued at $720,000 after purchasing an additional 3,173 shares in the last quarter. Deutsche Bank AG lifted its position in Civista Bancshares by 77.0% during the 4th quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock worth $162,000 after acquiring an additional 3,347 shares in the last quarter. Millennium Management LLC acquired a new position in Civista Bancshares during the 4th quarter worth approximately $1,059,000. Finally, Nuveen Asset Management LLC lifted its position in Civista Bancshares by 166.8% during the 4th quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank's stock worth $1,950,000 after acquiring an additional 57,950 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company's stock.

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.

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