Civista Bancshares, Inc. (NASDAQ:CIVB) Receives $17.67 Average Target Price from Analysts

Civista Bancshares, Inc. (NASDAQ:CIVB) has been given an average recommendation of “Hold” by the four brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $17.75.

CIVB has been the subject of several analyst reports. Piper Sandler began coverage on Civista Bancshares in a report on Wednesday, February 21st. They set a “neutral” rating and a $18.00 target price for the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price target (down previously from $21.00) on shares of Civista Bancshares in a report on Wednesday, May 1st. Stephens lowered their price objective 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. Hovde Group began coverage on Civista Bancshares in a research report on Monday, April 1st. They set a “market perform” rating and a $16.00 target price for the company. Finally, TheStreet cut Civista Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, March 7th.

Insider Activity at Civista Bancshares

In other news, SVP Michael D. Mulford acquired 2,000 shares of Civista Bancshares stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average cost of $15.82 per share, for a total transaction of $31,640.00. Following the transaction, the senior vice president now owns 2,000 shares of the company’s stock, valued at $31,640. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Civista Bancshares

A number of hedge funds have recently made changes to their positions in CIVB. Allspring Global Investments Holdings LLC lifted its stake in shares of Civista Bancshares by 294.7% in 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. purchased a new position in Civista Bancshares in the 4th quarter worth approximately $109,000. SG Americas Securities LLC bought a new stake in Civista Bancshares in the third quarter valued at approximately $104,000. Gendell Jeffrey L bought a new stake in Civista Bancshares in the fourth quarter valued at approximately $184,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Civista Bancshares during the third quarter valued at approximately $160,000. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Stock Down 0.4 %

Civista Bancshares stock opened at $14.22 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $223.11 million, a P/E ratio of 6.10 and a beta of 0.79. The firm has a 50 day moving average price of $14.82 and a 200-day moving average price of $15.87. Civista Bancshares has a twelve month low of $13.99 and a twelve month high of $19.80.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The firm had revenue of $58.63 million during the quarter, compared to analysts’ expectations of $38.01 million. Civista Bancshares had a return on equity of 10.36% and a net margin of 16.38%. During the same period last year, the business posted $0.82 EPS. As a group, equities analysts predict that Civista Bancshares will post 1.91 EPS for the current year.

Civista Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Monday, May 6th. Civista Bancshares’s dividend payout ratio is currently 27.47%.

About Civista Bancshares

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.