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

Key Points

• Analyst sentiment is moderately bullish: Six analysts give Civista Bancshares an average “Moderate Buy” rating, with three buys and three holds. The average 12-month price target is $30.25, above the reported $26.71 share price.
• Recent earnings slightly exceeded expectations: Civista reported quarterly EPS of $0.69, topping the $0.67 consensus estimate, while revenue of $47.6 million came in slightly below forecasts. Analysts project full-year EPS of $2.83.
• The company maintains shareholder returns: Civista declared a quarterly dividend of $0.18, equivalent to $0.72 annually and a 2.7% yield, with a current payout ratio of 26.67%. Institutional investors own 52.1% of the stock.

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $30.25.

Several research analysts have issued reports on the stock. DA Davidson lifted their target price on shares of Civista Bancshares from $31.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $31.00 price target (up from $29.00) on shares of Civista Bancshares in a report on Friday, July 24th. Zacks Research downgraded shares of Civista Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Piper Sandler boosted their price objective on shares of Civista Bancshares from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Civista Bancshares in a research report on Wednesday, July 8th.

Institutional Investors Weigh In On Civista Bancshares

Several institutional investors have recently modified their holdings of CIVB. Public Employees Retirement System of Ohio bought a new stake in Civista Bancshares in the 2nd quarter worth about $85,000. Sequoia Financial Advisors LLC bought a new position in Civista Bancshares during the 2nd quarter valued at about $216,000. Odyssean LLC purchased a new stake in shares of Civista Bancshares during the 2nd quarter valued at about $431,000. NewEdge Advisors LLC boosted its holdings in shares of Civista Bancshares by 1,102.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,838 shares of the bank's stock valued at $361,000 after acquiring an additional 14,521 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Civista Bancshares in the first quarter worth approximately $433,000. 52.10% of the stock is owned by hedge funds and other institutional investors.

Civista Bancshares Trading Down 0.4%

NASDAQ CIVB opened at $26.71 on Wednesday. Civista Bancshares has a 12 month low of $19.82 and a 12 month high of $29.97. The stock has a market cap of $555.30 million, a P/E ratio of 9.89 and a beta of 0.66. The stock's fifty day moving average price is $27.65 and its 200-day moving average price is $26.40. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $47.60 million during the quarter, compared to analyst estimates of $48.08 million. Civista Bancshares had a return on equity of 10.65% and a net margin of 20.79%. As a group, equities analysts forecast that Civista Bancshares will post 2.83 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were paid a $0.18 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.72 annualized dividend and a dividend yield of 2.7%. Civista Bancshares's payout ratio is currently 26.67%.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. It operates primarily through Civista Bank, a community banking institution that provides financial services to individuals, families, businesses and public-sector organizations.

Civista Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate, consumer, agricultural and commercial loans.

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