Civista Bancshares (NASDAQ:CIVB) Hits New 12-Month High – Here’s What Happened

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $25.66 and last traded at $24.8840, with a volume of 6755 shares traded. The stock had previously closed at $25.07.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Hovde Group raised their target price on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Piper Sandler upped their price target on shares of Civista Bancshares from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods increased their price target 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 restated a “buy” rating and set a $28.00 price objective on shares of Civista Bancshares in a research report on Friday, January 30th. Finally, Zacks Research raised Civista Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.60.

Civista Bancshares Trading Down 1.7%

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $607.87 million, a price-to-earnings ratio of 9.06 and a beta of 0.67. The business’s fifty day moving average price is $23.40 and its 200 day moving average price is $23.00.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The business had revenue of $47.25 million during the quarter, compared to the consensus estimate of $45.64 million. Civista Bancshares had a return on equity of 11.09% and a net margin of 19.73%. Research analysts anticipate that Civista Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, May 5th. This represents a $0.72 annualized dividend and a yield of 2.9%. Civista Bancshares’s dividend payout ratio (DPR) is presently 26.47%.

Institutional Investors Weigh In On Civista Bancshares

A number of institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. raised its stake in Civista Bancshares by 43.7% during the third quarter. Hillsdale Investment Management Inc. now owns 132,711 shares of the bank’s stock worth $2,695,000 after buying an additional 40,376 shares during the last quarter. Royce & Associates LP bought a new stake in Civista Bancshares during the third quarter valued at $5,584,000. Stieven Capital Advisors L.P. acquired a new stake in Civista Bancshares during the 3rd quarter worth about $2,234,000. EJF Capital LLC bought a new position in shares of Civista Bancshares in the 3rd quarter worth about $1,763,000. Finally, Maltese Capital Management LLC raised its position in shares of Civista Bancshares by 93.2% in the 3rd quarter. Maltese Capital Management LLC now owns 284,000 shares of the bank’s stock worth $5,768,000 after acquiring an additional 137,000 shares in the last quarter. 52.10% of the stock is 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.