Civista Bancshares, Inc. (NASDAQ:CIVB) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the four brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $25.20.

A number of equities research analysts have issued reports on CIVB shares. Piper Sandler upped their price target on shares of Civista Bancshares from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Stephens lifted their price target on shares of Civista Bancshares from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Wall Street Zen cut Civista Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Keefe, Bruyette & Woods upped their price objective on Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, DA Davidson set a $26.00 target price on Civista Bancshares and gave the stock a "buy" rating in a research note on Monday.

Insiders Place Their Bets

In related news, Chairman Dennis E. Murray, Jr. acquired 6,143 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was purchased at an average cost of $22.44 per share, with a total value of $137,848.92. Following the acquisition, the chairman owned 19,162 shares of the company's stock, valued at approximately $429,995.28. This trade represents a 47.18% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Civista Bancshares

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Civista Bancshares by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 857,968 shares of the bank's stock worth $18,052,000 after acquiring an additional 12,746 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Civista Bancshares by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 833,047 shares of the bank's stock valued at $17,527,000 after buying an additional 23,809 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Civista Bancshares by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 351,624 shares of the bank's stock worth $7,399,000 after purchasing an additional 3,272 shares during the last quarter. Mendon Capital Advisors Corp grew its stake in shares of Civista Bancshares by 3.8% in the first quarter. Mendon Capital Advisors Corp now owns 251,603 shares of the bank's stock worth $4,916,000 after purchasing an additional 9,153 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Civista Bancshares by 13.8% in the first quarter. American Century Companies Inc. now owns 217,777 shares of the bank's stock worth $4,255,000 after buying an additional 26,461 shares during the period. 52.10% of the stock is owned by institutional investors.

Civista Bancshares Stock Performance

CIVB stock traded up $0.27 during midday trading on Monday, reaching $21.70. The company had a trading volume of 49,853 shares, compared to its average volume of 52,287. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. The stock has a 50 day moving average price of $22.91 and a 200 day moving average price of $21.27. The firm has a market capitalization of $336.71 million, a PE ratio of 9.57 and a beta of 0.69. Civista Bancshares has a fifty-two week low of $14.90 and a fifty-two week high of $25.59.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.16. The company had revenue of $40.63 million for the quarter, compared to analysts' expectations of $40.33 million. Civista Bancshares had a return on equity of 9.13% and a net margin of 14.35%. Analysts anticipate that Civista Bancshares will post 2.28 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, April 29th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Tuesday, April 29th. Civista Bancshares's dividend payout ratio is 29.96%.

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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