Civista Bancshares, Inc. (NASDAQ:CIVB) Given Average Recommendation of “Hold” by Brokerages

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $27.20.

CIVB has been the topic of several recent analyst reports. Piper Sandler lifted their target price on Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Zacks Research lowered Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Wall Street Zen cut Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th.

Civista Bancshares Stock Performance

CIVB opened at $28.46 on Monday. The firm’s fifty day moving average is $26.09 and its two-hundred day moving average is $24.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $591.40 million, a PE ratio of 10.46 and a beta of 0.67. Civista Bancshares has a twelve month low of $18.94 and a twelve month high of $29.38.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. The company had revenue of $47.25 million during the quarter, compared to analyst estimates of $45.64 million. Equities research analysts anticipate that Civista Bancshares will post 2.84 EPS for the current year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio (DPR) is 26.47%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CIVB. NewEdge Advisors LLC raised its holdings in shares of Civista Bancshares by 57.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after acquiring an additional 481 shares during the period. Federated Hermes Inc. boosted its stake in Civista Bancshares by 306.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares during the period. Osaic Holdings Inc. increased its holdings in Civista Bancshares by 628.2% during the 2nd quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after purchasing an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Civista Bancshares by 111.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after purchasing an additional 2,107 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Civista Bancshares by 784.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock valued at $111,000 after purchasing an additional 4,253 shares during the period. Institutional investors and hedge funds own 52.10% of the company’s stock.

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.