Equities Analysts Set Expectations for Civista Bancshares, Inc.’s Q2 2024 Earnings (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Civista Bancshares in a research note issued to investors on Thursday, May 2nd. DA Davidson analyst M. Navas forecasts that the bank will post earnings per share of $0.37 for the quarter. The consensus estimate for Civista Bancshares’ current full-year earnings is $2.05 per share. DA Davidson also issued estimates for Civista Bancshares’ FY2025 earnings at $2.00 EPS.

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

Civista Bancshares Trading Down 0.4 %

Shares of NASDAQ:CIVB opened at $14.22 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $223.07 million, a price-to-earnings ratio of 6.10 and a beta of 0.79. Civista Bancshares has a 1-year low of $13.99 and a 1-year high of $19.80. The company has a 50 day moving average price of $14.84 and a 200 day moving average price of $15.88.

Civista Bancshares (NASDAQ:CIVB) last issued 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). The business had revenue of $58.63 million during the quarter, compared to analyst estimates of $38.01 million. Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. During the same period in the previous year, the company posted $0.82 earnings per share.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Monday, May 6th. Civista Bancshares’s dividend payout ratio (DPR) is currently 27.47%.

Insider Activity

In other news, SVP Michael D. Mulford acquired 2,000 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the senior vice president now owns 2,000 shares in the company, valued at $31,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Civista Bancshares

A number of institutional investors have recently added to or reduced their stakes in CIVB. Wellington Management Group LLP increased its stake in shares of Civista Bancshares by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock worth $11,164,000 after purchasing an additional 5,400 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in Civista Bancshares by 6.0% during the third quarter. Pacific Ridge Capital Partners LLC now owns 400,905 shares of the bank’s stock valued at $6,214,000 after buying an additional 22,564 shares in the last quarter. Mendon Capital Advisors Corp acquired a new stake in shares of Civista Bancshares in the fourth quarter worth about $3,688,000. Bank of New York Mellon Corp lifted its position in shares of Civista Bancshares by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 84,954 shares of the bank’s stock worth $1,317,000 after buying an additional 3,178 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Civista Bancshares by 9.7% during the 4th quarter. Victory Capital Management Inc. now owns 47,700 shares of the bank’s stock worth $880,000 after acquiring an additional 4,212 shares in the last quarter. 52.10% of the stock is currently owned by institutional investors and hedge funds.

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.