Brokers Offer Predictions for Civista Bancshares, Inc.'s Q2 2024 Earnings (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) - Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Civista Bancshares in a research report issued to clients and investors on Thursday, May 2nd. DA Davidson analyst M. Navas expects that the bank will post earnings per share of $0.37 for the quarter. The consensus estimate for Civista Bancshares' current full-year earnings is $2.05 per share. DA Davidson also issued estimates for Civista Bancshares' FY2025 earnings at $2.00 EPS.

Several other equities research analysts have also commented on CIVB. Hovde Group began coverage on shares of Civista Bancshares in a research report on Monday, April 1st. They set a "market perform" rating and a $16.00 target price on the stock. TheStreet cut Civista Bancshares from a "b-" rating to a "c+" rating in a report on Thursday, March 7th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $18.00 target price (down from $21.00) on shares of Civista Bancshares in a research note on Wednesday. Piper Sandler began coverage on shares of Civista Bancshares in a report on Wednesday, February 21st. They issued a "neutral" rating and a $18.00 price target on the stock. Finally, Stephens reduced their price target on Civista Bancshares from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $17.75.

Civista Bancshares Stock Performance

CIVB traded down $0.05 during trading on Friday, reaching $14.22. The company's stock had a trading volume of 29,894 shares, compared to its average volume of 28,511. The company has a market capitalization of $223.07 million, a price-to-earnings ratio of 6.10 and a beta of 0.79. The company's fifty day moving average price is $14.84 and its 200-day moving average price is $15.88. Civista Bancshares has a 52-week low of $13.99 and a 52-week high of $19.80. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.96.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). Civista Bancshares had a return on equity of 10.36% and a net margin of 16.38%. The company had revenue of $58.63 million for the quarter, compared to analyst estimates of $38.01 million. During the same period in the previous year, the business posted $0.82 earnings per share.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 7th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, May 6th. Civista Bancshares's dividend payout ratio (DPR) is presently 27.47%.

Insider Activity

In other news, SVP Michael D. Mulford bought 2,000 shares of Civista Bancshares stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $15.82 per share, with a total value of $31,640.00. Following the purchase, the senior vice president now directly owns 2,000 shares of the company's stock, valued at approximately $31,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.01% of the company's stock.

Institutional Trading of Civista Bancshares

Several institutional investors have recently modified their holdings of CIVB. Allspring Global Investments Holdings LLC lifted its position in shares of Civista Bancshares by 294.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank's stock valued at $38,000 after acquiring an additional 1,830 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Civista Bancshares in the 4th quarter valued at $109,000. SG Americas Securities LLC purchased a new position in Civista Bancshares in the 3rd quarter worth about $104,000. Gendell Jeffrey L acquired a new stake in Civista Bancshares during the 4th quarter worth about $184,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Civista Bancshares during the third quarter valued at about $160,000. Institutional investors and hedge funds own 52.10% of the company's stock.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.