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

Civista Bancshares, Inc. (NASDAQ:CIVB) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $30.25.

CIVB has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 price target (up from $29.00) on shares of Civista Bancshares in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Civista Bancshares in a research report on Friday, October 2nd. DA Davidson upped their price objective on Civista Bancshares from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Piper Sandler lifted their price target on shares of Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, July 27th.

Institutional Trading of Civista Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mendon Capital Advisors Corp boosted its position in Civista Bancshares by 38.3% during the first quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock valued at $7,104,000 after purchasing an additional 86,390 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Civista Bancshares in the second quarter valued at about $2,323,000. Pinnacle Holdings LLC acquired a new position in Civista Bancshares in the 2nd quarter worth about $1,663,000. Assenagon Asset Management S.A. acquired a new position in Civista Bancshares in the 1st quarter worth about $433,000. Finally, Dimensional Fund Advisors LP increased its position in Civista Bancshares by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank’s stock worth $21,658,000 after purchasing an additional 40,176 shares during the last quarter. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $28.16 on Friday. The firm has a fifty day moving average price of $27.30 and a 200 day moving average price of $25.94. Civista Bancshares has a 12 month low of $21.10 and a 12 month high of $29.97. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41. The company has a market cap of $585.45 million, a P/E ratio of 9.77 and a beta of 0.65.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Thursday, October 22nd. The bank reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. The firm had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $48.78 million. Civista Bancshares had a return on equity of 10.97% and a net margin of 21.82%. Sell-side analysts predict that Civista Bancshares will post 2.91 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Tuesday, November 3rd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, November 3rd. Civista Bancshares’s payout ratio is presently 25.81%.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. The company operates primarily through its subsidiary, Civista Bank, a community-oriented institution that provides banking and financial services to individuals, families, businesses and agricultural customers.

Civista Bank offers deposit products, residential and commercial real estate loans, commercial and industrial financing, agricultural lending, consumer loans and other credit services. Its additional offerings include treasury management, online and mobile banking, wealth management, trust services, investment services and insurance solutions.

Through its branch network and other delivery channels, Civista serves customers in communities across Ohio, Indiana and Kentucky.