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

Key Points

• Civista Bancshares has a consensus analyst rating of “Moderate Buy”, with seven brokerages covering the stock and an average 1-year price target of $26.60.
• The company recently beat quarterly earnings expectations, reporting EPS of $0.74 versus estimates of $0.56, along with revenue of $47.25 million above forecasts.
• Civista also announced a quarterly dividend of $0.18 per share, which annualizes to $0.72 and implies a 2.9% yield.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $26.60.

A number of research analysts have recently commented on the company. DA Davidson reiterated a "buy" rating and issued a $28.00 price target on shares of Civista Bancshares in a research note on Friday, January 30th. Keefe, Bruyette & Woods increased their price target on Civista Bancshares from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. Zacks Research upgraded Civista Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 24th. Hovde Group increased their price target on Civista Bancshares from $23.00 to $26.00 and gave the company a "market perform" rating in a research note on Friday, January 30th. Finally, Piper Sandler increased their price target on Civista Bancshares from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, April 24th.

Civista Bancshares Stock Up 0.0%

Shares of CIVB opened at $24.99 on Friday. Civista Bancshares has a 52 week low of $18.94 and a 52 week high of $28.31. The stock has a market capitalization of $616.25 million, a price-to-earnings ratio of 9.19 and a beta of 0.67. 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 stock has a fifty day moving average of $23.46 and a 200-day moving average of $23.10.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. Civista Bancshares had a return on equity of 11.09% and a net margin of 19.73%.The company had revenue of $47.25 million during the quarter, compared to analysts' expectations of $45.64 million. As a group, sell-side analysts anticipate that Civista Bancshares will post 2.84 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, May 5th. Civista Bancshares's dividend payout ratio is presently 26.47%.

Institutional Trading of Civista Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its holdings in Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank's stock valued at $29,000 after purchasing an additional 481 shares during the period. Federated Hermes Inc. increased its holdings in Civista Bancshares by 306.6% in the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank's stock valued at $31,000 after purchasing an additional 1,015 shares during the period. Osaic Holdings Inc. increased its holdings in Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank's stock valued at $75,000 after purchasing an additional 2,783 shares during the period. BNP Paribas Financial Markets increased its holdings in Civista Bancshares by 111.4% in the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank's stock valued at $81,000 after purchasing an additional 2,107 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Civista Bancshares by 784.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank's stock valued at $111,000 after purchasing an additional 4,253 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

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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