Analysts Set Expectations for Civista Bancshares, Inc.’s Q4 2023 Earnings (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Investment analysts at DA Davidson issued their Q4 2023 earnings estimates for Civista Bancshares in a research report issued on Tuesday, October 31st. DA Davidson analyst M. Navas expects that the bank will post earnings per share of $0.53 for the quarter. The consensus estimate for Civista Bancshares’ current full-year earnings is $2.63 per share. DA Davidson also issued estimates for Civista Bancshares’ FY2024 earnings at $2.25 EPS.

Other equities analysts have also issued reports about the stock. StockNews.com started coverage on shares of Civista Bancshares in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Stephens restated an “overweight” rating and set a $22.00 price target on shares of Civista Bancshares in a research report on Tuesday, August 1st. Finally, TheStreet upgraded shares of Civista Bancshares from a “c+” rating to a “b-” rating in a research report on Monday, July 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Civista Bancshares has a consensus rating of “Moderate Buy” and an average price target of $24.67.

Civista Bancshares Stock Down 0.4 %

Shares of NASDAQ CIVB opened at $14.52 on Wednesday. The company’s 50-day simple moving average is $15.94 and its 200-day simple moving average is $16.44. Civista Bancshares has a 52-week low of $14.02 and a 52-week high of $24.28. The firm has a market cap of $228.68 million, a price-to-earnings ratio of 5.02 and a beta of 0.83. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.75.

Civista Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, November 6th. Civista Bancshares’s dividend payout ratio (DPR) is presently 22.15%.

Hedge Funds Weigh In On Civista Bancshares

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Civista Bancshares by 7.6% during the second quarter. BlackRock Inc. now owns 1,167,078 shares of the bank’s stock worth $20,307,000 after purchasing an additional 82,776 shares during the period. Dimensional Fund Advisors LP raised its stake in Civista Bancshares by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 723,602 shares of the bank’s stock worth $12,214,000 after purchasing an additional 28,584 shares during the period. Vanguard Group Inc. raised its stake in Civista Bancshares by 0.7% during the first quarter. Vanguard Group Inc. now owns 680,374 shares of the bank’s stock worth $16,397,000 after purchasing an additional 4,800 shares during the period. The Manufacturers Life Insurance Company raised its stake in Civista Bancshares by 8.8% during the first quarter. The Manufacturers Life Insurance Company now owns 576,602 shares of the bank’s stock worth $13,896,000 after purchasing an additional 46,686 shares during the period. Finally, Wellington Management Group LLP raised its stake in Civista Bancshares by 1.0% during the first quarter. Wellington Management Group LLP now owns 567,121 shares of the bank’s stock worth $9,573,000 after purchasing an additional 5,600 shares during the period. 50.16% of the stock is owned by hedge funds and other institutional investors.

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.