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

Key Points

• Civista Bancshares hit a new 52-week high of $25.66 and analysts have raised price targets, leaving the consensus rating at a Moderate Buy with an average target of $26.60.
• The bank beat Q1 estimates (EPS $0.74 vs. $0.56; revenue $47.25M vs. $45.64M), trades at a low valuation (P/E 9.06) and analysts forecast roughly $2.84 in EPS for the year.
• Civista announced a quarterly dividend of $0.18 (annualized $0.72) for a 2.9% yield, and institutional investors own about 52.1% of the stock with several large funds recently increasing stakes.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $25.66 and last traded at $24.8840, with a volume of 6755 shares. The stock had previously closed at $25.07.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CIVB shares. Hovde Group lifted their price objective on shares of Civista Bancshares from $23.00 to $26.00 and gave the stock a "market perform" rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods raised their target price on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Piper Sandler lifted their price target on shares of Civista Bancshares from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Zacks Research raised Civista Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 24th. Finally, DA Davidson restated a "buy" rating and set a $28.00 price objective on shares of Civista Bancshares in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Civista Bancshares has an average rating of "Moderate Buy" and an average target price of $26.60.

Civista Bancshares Price Performance

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 stock has a market capitalization of $607.87 million, a price-to-earnings ratio of 9.06 and a beta of 0.67. The business's 50 day simple moving average is $23.40 and its 200-day simple moving average is $23.00.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. The company had revenue of $47.25 million during the quarter, compared to the consensus estimate of $45.64 million. Civista Bancshares had a net margin of 19.73% and a return on equity of 11.09%. On average, research analysts forecast that Civista Bancshares, Inc. will post 2.84 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders 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 dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 5th. Civista Bancshares's dividend payout ratio (DPR) is currently 26.47%.

Institutional Trading of Civista Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Civista Bancshares by 1,092.1% in the third quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank's stock valued at $29,938,000 after buying an additional 1,350,409 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Civista Bancshares by 19.4% in the third 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Civista Bancshares by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 910,154 shares of the bank's stock worth $20,224,000 after acquiring an additional 40,491 shares during the last quarter. Endeavour Capital Advisors Inc. acquired a new stake in shares of Civista Bancshares in the 3rd quarter valued at approximately $11,134,000. Finally, Geode Capital Management LLC boosted its stake in shares of Civista Bancshares by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 462,583 shares of the bank's stock valued at $10,281,000 after purchasing an additional 32,146 shares in the last quarter. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Company Profile

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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