Civista Bancshares, Inc. (NASDAQ:CIVB) Expected to Announce Earnings of $0.60 Per Share

Wall Street analysts forecast that Civista Bancshares, Inc. (NASDAQ:CIVB – Get Rating) will announce $0.60 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Civista Bancshares’ earnings. The highest EPS estimate is $0.63 and the lowest is $0.57. Civista Bancshares reported earnings of $0.68 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.8%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Civista Bancshares will report full year earnings of $2.31 per share for the current fiscal year, with EPS estimates ranging from $2.20 to $2.40. For the next fiscal year, analysts anticipate that the company will report earnings of $2.72 per share, with EPS estimates ranging from $2.65 to $2.80. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Civista Bancshares.

Civista Bancshares (NASDAQ:CIVB – Get Rating) last issued its quarterly earnings data on Friday, February 4th. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.13. Civista Bancshares had a net margin of 30.44% and a return on equity of 11.53%. The business had revenue of $30.13 million during the quarter, compared to analysts’ expectations of $30.40 million. During the same period last year, the company posted $0.64 EPS.

Several research firms have commented on CIVB. Zacks Investment Research upgraded Civista Bancshares from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, March 15th. DA Davidson reaffirmed a “buy” rating on shares of Civista Bancshares in a research note on Wednesday, January 12th. Finally, StockNews.com initiated coverage on Civista Bancshares in a report on Thursday, March 31st. They set a “buy” rating for the company.

In related news, Director Allen R. Nickles sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $24.09, for a total value of $120,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.05% of the company’s stock.

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Civista Bancshares by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 566,547 shares of the bank’s stock worth $13,161,000 after acquiring an additional 22,521 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its position in shares of Civista Bancshares by 71.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 4,004 shares of the bank’s stock worth $93,000 after buying an additional 1,663 shares during the period. Renaissance Technologies LLC boosted its position in shares of Civista Bancshares by 1.2% in the third quarter. Renaissance Technologies LLC now owns 171,965 shares of the bank’s stock worth $3,995,000 after buying an additional 2,000 shares during the period. LSV Asset Management boosted its position in shares of Civista Bancshares by 77.0% in the fourth quarter. LSV Asset Management now owns 132,332 shares of the bank’s stock worth $3,229,000 after buying an additional 57,581 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Civista Bancshares by 73.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,846 shares of the bank’s stock worth $43,000 after buying an additional 783 shares during the period. Institutional investors own 52.72% of the company’s stock.

Shares of NASDAQ CIVB traded up $0.34 during midday trading on Wednesday, reaching $23.51. The company had a trading volume of 2,523 shares, compared to its average volume of 41,335. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50-day moving average is $24.17. The company has a market cap of $350.75 million, a PE ratio of 8.78 and a beta of 0.88. Civista Bancshares has a 1 year low of $21.40 and a 1 year high of $25.94.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Tuesday, February 15th were issued a $0.14 dividend. The ex-dividend date was Monday, February 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.38%. Civista Bancshares’s dividend payout ratio (DPR) is 21.21%.

About Civista Bancshares (Get Rating)

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. The company 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.

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