Civista Bancshares (NASDAQ:CIVB) Reaches New 1-Year High - Should You Buy?

Key Points

• Civista Bancshares reached a new 52-week high of $25.60, trading near $25.59 with a market cap of about $628M and an average analyst target of $26.60 (consensus: "Moderate Buy").
• The bank reported an earnings beat for the quarter—$0.74 EPS vs. $0.56 expected and $47.25M revenue vs. $45.64M expected—with ROE of 11.09% and a net margin of 19.73%.
• Civista declared a quarterly dividend of $0.18 (annualized $0.72), implying a yield of roughly 2.8% and a payout ratio of about 26%, payable May 19 to holders of record May 5.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $25.60 and last traded at $25.59, with a volume of 31622 shares changing hands. The stock had previously closed at $25.33.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CIVB shares. Keefe, Bruyette & Woods increased their target price on Civista Bancshares from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. DA Davidson reissued a "buy" rating and set a $28.00 price objective on shares of Civista Bancshares in a report on Friday, January 30th. Hovde Group boosted their target price on Civista Bancshares from $23.00 to $26.00 and gave the stock a "market perform" rating in a research report on Friday, January 30th. Zacks Research raised shares of Civista Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Civista Bancshares in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Civista Bancshares currently has an average rating of "Moderate Buy" and an average target price of $26.60.

Civista Bancshares Trading Up 0.6%

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $628.21 million, a PE ratio of 9.37 and a beta of 0.64. The stock's fifty day moving average price is $23.34 and its two-hundred day moving average price is $22.91.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. Civista Bancshares had a return on equity of 11.09% and a net margin of 19.73%.The business had revenue of $47.25 million during the quarter, compared to analysts' expectations of $45.64 million. Sell-side analysts anticipate that Civista Bancshares, Inc. will post 2.76 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, May 5th. This represents a $0.72 annualized dividend and a yield of 2.8%. Civista Bancshares's payout ratio is 26.47%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CIVB. Wellington Management Group LLP boosted its stake in shares of Civista Bancshares by 1,092.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank's stock valued at $29,938,000 after purchasing an additional 1,350,409 shares in the last quarter. Endeavour Capital Advisors Inc. purchased a new stake in Civista Bancshares in the third quarter worth about $11,134,000. Alliancebernstein L.P. boosted its position in Civista Bancshares by 2,904.8% during the 3rd quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank's stock valued at $7,220,000 after acquiring an additional 343,642 shares in the last quarter. Royce & Associates LP bought a new stake in Civista Bancshares during the 3rd quarter valued at approximately $5,584,000. Finally, Vanguard Group Inc. grew its holdings in shares of Civista Bancshares by 19.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank's stock worth $20,752,000 after acquiring an additional 166,049 shares during the period. 52.10% of the stock is currently owned by institutional investors.

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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