Civista Bancshares, Inc. (NASDAQ:CIVB) Given Consensus Rating of “Hold” by Brokerages

Civista Bancshares, Inc. (NASDAQ:CIVB) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $24.60.

CIVB has been the subject of several recent analyst reports. Stephens reduced their target price on shares of Civista Bancshares from $27.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Civista Bancshares in a research report on Wednesday, October 8th. Zacks Research raised Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. DA Davidson started coverage on Civista Bancshares in a research note on Monday, October 27th. They set a “buy” rating and a $26.00 target price for the company. Finally, Hovde Group cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a report on Monday, August 18th.

Civista Bancshares Trading Up 0.0%

Shares of Civista Bancshares stock opened at $21.92 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The company has a fifty day simple moving average of $21.07 and a 200-day simple moving average of $21.59. The stock has a market cap of $423.34 million, a price-to-earnings ratio of 8.18 and a beta of 0.79. Civista Bancshares has a 12-month low of $17.47 and a 12-month high of $25.59.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Wednesday, November 5th. The bank reported $0.71 earnings per share (EPS) for the quarter. The firm had revenue of $44.18 million for the quarter. Civista Bancshares had a return on equity of 10.86% and a net margin of 17.42%. On average, equities analysts forecast that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Tuesday, November 4th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.1%. Civista Bancshares’s dividend payout ratio (DPR) is 25.37%.

Hedge Funds Weigh In On Civista Bancshares

Large investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its holdings in shares of Civista Bancshares by 13.8% in the 1st quarter. American Century Companies Inc. now owns 217,777 shares of the bank’s stock worth $4,255,000 after acquiring an additional 26,461 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Civista Bancshares during the second quarter worth $415,000. Hotchkis & Wiley Capital Management LLC grew its holdings in Civista Bancshares by 28.3% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 148,560 shares of the bank’s stock valued at $2,903,000 after purchasing an additional 32,760 shares during the last quarter. Nuveen LLC acquired a new stake in Civista Bancshares in the first quarter valued at $1,594,000. Finally, Hsbc Holdings PLC increased its position in shares of Civista Bancshares by 9.5% in the first quarter. Hsbc Holdings PLC now owns 21,181 shares of the bank’s stock valued at $413,000 after buying an additional 1,831 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

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.