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

Analysts expect that Civista Bancshares, Inc. (NASDAQ:CIVBGet Rating) will post $0.60 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Civista Bancshares’ earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.57. Civista Bancshares posted earnings of $0.68 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 11.8%. The business is expected to issue its next quarterly earnings results before the market opens 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 forecast that the business will report earnings of $2.72 per share, with EPS estimates ranging from $2.65 to $2.80. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Civista Bancshares.

Civista Bancshares (NASDAQ:CIVBGet Rating) last issued its quarterly earnings data on Friday, February 4th. The bank reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 in the previous year, the company earned $0.64 earnings per share.

A number of research analysts have issued reports on CIVB shares. DA Davidson reissued a “buy” rating on shares of Civista Bancshares in a report on Wednesday, January 12th. Zacks Investment Research raised Civista Bancshares from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, March 15th. Finally, initiated coverage on shares of Civista Bancshares in a report on Thursday, March 31st. They issued a “buy” rating on the stock.

Shares of CIVB traded up $0.17 during trading hours on Wednesday, reaching $22.40. 733 shares of the company traded hands, compared to its average volume of 42,507. Civista Bancshares has a 1-year low of $21.40 and a 1-year high of $25.94. The firm has a market cap of $334.19 million, a PE ratio of 8.48 and a beta of 0.88. The firm has a fifty day moving average of $23.85. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Shareholders of record on Tuesday, February 15th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, February 14th. Civista Bancshares’s dividend payout ratio is 21.21%.

In related news, Director Allen R. Nickles sold 5,000 shares of Civista Bancshares stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $24.09, for a total transaction of $120,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.05% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of CIVB. Susquehanna International Group LLP acquired a new position in shares of Civista Bancshares during the 4th quarter worth $1,433,000. LSV Asset Management lifted its stake 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 acquiring an additional 57,581 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Civista Bancshares during the 4th quarter worth about $768,000. Monarch Partners Asset Management LLC increased its stake in shares of Civista Bancshares by 32.9% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 115,549 shares of the bank’s stock valued at $2,684,000 after acquiring an additional 28,597 shares in the last quarter. Finally, Millennium Management LLC increased its position in Civista Bancshares by 145.0% in the 3rd quarter. Millennium Management LLC now owns 47,205 shares of the bank’s stock valued at $1,097,000 after buying an additional 27,937 shares in the last quarter. Institutional investors own 52.72% of the company’s stock.

Civista Bancshares Company Profile (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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Earnings History and Estimates for Civista Bancshares (NASDAQ:CIVB)

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