Civista Bancshares (NASDAQ:CIVB) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their outperform rating on shares of Civista Bancshares (NASDAQ:CIVB) in a report issued on Wednesday, Benzinga reports. They currently have a $18.00 target price on the bank’s stock, down from their prior target price of $21.00.

A number of other equities analysts have also issued reports on the company. Stephens cut their target price 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. Piper Sandler began coverage on Civista Bancshares in a research report on Wednesday, February 21st. They issued a neutral rating and a $18.00 target price on the stock. TheStreet lowered Civista Bancshares from a b- rating to a c+ rating in a research report on Thursday, March 7th. Finally, Hovde Group initiated coverage on Civista Bancshares in a report on Monday, April 1st. They issued a market perform rating and a $16.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Civista Bancshares has a consensus rating of Hold and a consensus target price of $17.75.

Civista Bancshares Stock Performance

Civista Bancshares stock opened at $14.28 on Wednesday. The stock’s 50 day moving average price is $14.86 and its 200 day moving average price is $15.89. Civista Bancshares has a one year low of $13.99 and a one year high of $19.80. The firm has a market capitalization of $224.05 million, a PE ratio of 5.21 and a beta of 0.78. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.96.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Tuesday, April 30th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Civista Bancshares had a net margin of 19.85% and a return on equity of 12.26%. The business had revenue of $58.63 million during the quarter, compared to analyst estimates of $38.01 million. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, sell-side analysts expect that Civista Bancshares will post 2.05 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 7th will be issued a $0.16 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.48%. Civista Bancshares’s dividend payout ratio (DPR) is 23.36%.

Insider Activity

In other news, SVP Michael D. Mulford purchased 2,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $15.82 per share, for a total transaction of $31,640.00. Following the acquisition, the senior vice president now 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 at this link. Company insiders own 3.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CIVB. Allspring Global Investments Holdings LLC increased its position in 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 buying an additional 1,830 shares during the period. SG Americas Securities LLC acquired a new stake in Civista Bancshares in the third quarter worth $104,000. Hillsdale Investment Management Inc. acquired a new stake in Civista Bancshares in the fourth quarter worth $109,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Civista Bancshares in the third quarter worth $160,000. Finally, Gendell Jeffrey L acquired a new stake in Civista Bancshares in the fourth quarter worth $184,000. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Company Profile

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.