Civista Bancshares, Inc. to Post Q2 2024 Earnings of $0.37 Per Share, DA Davidson Forecasts (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Civista Bancshares in a research report issued to clients and investors on Thursday, May 2nd. DA Davidson analyst M. Navas anticipates that the bank will earn $0.37 per share for the quarter. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.99 per share. DA Davidson also issued estimates for Civista Bancshares’ FY2025 earnings at $2.00 EPS.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results 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 firm had revenue of $58.63 million for the quarter, compared to analyst estimates of $38.01 million. During the same period last year, the company earned $0.82 EPS.

A number of other equities analysts also recently weighed in on the company. Piper Sandler started coverage on Civista Bancshares in a research report on Wednesday, February 21st. They set a “neutral” rating and a $18.00 price target for the company. Hovde Group started coverage on Civista Bancshares in a report on Monday, April 1st. They issued a “market perform” rating and a $16.00 price objective for the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price objective (down previously from $21.00) on shares of Civista Bancshares in a report on Wednesday. Stephens cut their price objective on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Finally, TheStreet cut Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.75.

Civista Bancshares Trading Down 0.4 %

NASDAQ:CIVB opened at $14.22 on Friday. Civista Bancshares has a twelve month low of $13.99 and a twelve month high of $19.80. 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 business has a 50 day moving average price of $14.82 and a two-hundred day moving average price of $15.87. The company has a market cap of $223.11 million, a P/E ratio of 6.10 and a beta of 0.79.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Civista Bancshares by 294.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock worth $38,000 after purchasing an additional 1,830 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Civista Bancshares in the fourth quarter worth $109,000. SG Americas Securities LLC bought a new position in shares of Civista Bancshares in the third quarter worth $104,000. Gendell Jeffrey L bought a new position in shares of Civista Bancshares in the fourth quarter worth $184,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Civista Bancshares in the third quarter worth $160,000. Institutional investors own 52.10% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael D. Mulford acquired 2,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $15.82 per share, for a total transaction of $31,640.00. Following the transaction, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $31,640. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.01% of the company’s stock.

Civista Bancshares Dividend Announcement

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