Civista Bancshares, Inc. (NASDAQ:CIVB) Stock Has Average Price Target of $30.25 According to Analysts

Key Points

• Analyst sentiment is moderately positive: Six analysts give Civista Bancshares a “Moderate Buy” consensus, with an average 12-month price target of $30.25 versus the stock’s $28.23 opening price.
• Civista Bancshares exceeded quarterly expectations, reporting $0.77 EPS versus the $0.70 consensus estimate and revenue of $49.08 million, slightly above forecasts.
• The company declared a quarterly dividend of $0.18 per share, equal to $0.72 annually and a 2.6% yield; institutional investors and hedge funds own 52.1% of the stock.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $30.25.

CIVB has been the subject of several analyst reports. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $31.00 price objective (up from $29.00) on shares of Civista Bancshares in a report on Friday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of Civista Bancshares in a research note on Friday, October 2nd. Piper Sandler upped their target price on Civista Bancshares from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, DA Davidson increased their price target on Civista Bancshares from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, July 27th.

Civista Bancshares Trading Down 0.8%

NASDAQ CIVB opened at $28.23 on Friday. Civista Bancshares has a 52 week low of $21.10 and a 52 week high of $29.97. The company has a 50 day moving average price of $27.21 and a 200 day moving average price of $25.82. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.41. The firm has a market cap of $586.90 million, a PE ratio of 10.12 and a beta of 0.66.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $49.08 million for the quarter, compared to analyst estimates of $48.78 million. Civista Bancshares had a net margin of 21.82% and a return on equity of 10.97%. As a group, sell-side analysts forecast that Civista Bancshares will post 2.91 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. Civista Bancshares's payout ratio is presently 25.81%.

Hedge Funds Weigh In On Civista Bancshares

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Civista Bancshares by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank's stock worth $21,658,000 after purchasing an additional 40,176 shares in the last quarter. Mendon Capital Advisors Corp increased its stake in Civista Bancshares by 38.3% during the 1st quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank's stock valued at $7,104,000 after purchasing an additional 86,390 shares in the last quarter. Empowered Funds LLC increased its stake in Civista Bancshares by 6.0% during the 1st quarter. Empowered Funds LLC now owns 82,659 shares of the bank's stock valued at $1,884,000 after purchasing an additional 4,667 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Civista Bancshares during the 2nd quarter valued at approximately $2,323,000. Finally, Pinnacle Holdings LLC acquired a new position in Civista Bancshares during the 2nd quarter valued at approximately $1,663,000. Institutional investors and hedge funds own 52.10% of the company's stock.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. The company operates primarily through its subsidiary, Civista Bank, a community-oriented institution that provides banking and financial services to individuals, families, businesses and agricultural customers.

Civista Bank offers deposit products, residential and commercial real estate loans, commercial and industrial financing, agricultural lending, consumer loans and other credit services. Its additional offerings include treasury management, online and mobile banking, wealth management, trust services, investment services and insurance solutions.

Through its branch network and other delivery channels, Civista serves customers in communities across Ohio, Indiana and Kentucky.

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