Civista Bancshares, Inc. (NASDAQ:CIVB) Receives Average Recommendation of “Hold” from Analysts

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $26.00.

Several brokerages have commented on CIVB. Keefe, Bruyette & Woods boosted their price target on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Hovde Group lifted their target price on Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. DA Davidson reiterated a “buy” rating and set a $28.00 target price on shares of Civista Bancshares in a report on Friday, January 30th. Zacks Research raised Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Civista Bancshares in a research note on Monday, December 29th.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $21.83 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. Civista Bancshares has a 52 week low of $17.47 and a 52 week high of $25.59. The company’s 50 day moving average price is $23.37 and its two-hundred day moving average price is $22.37. The company has a market capitalization of $452.65 million, a P/E ratio of 8.20 and a beta of 0.68.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%.The firm had revenue of $46.34 million for the quarter, compared to the consensus estimate of $45.43 million. On average, analysts expect that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were paid a $0.18 dividend. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, February 10th. Civista Bancshares’s dividend payout ratio (DPR) is 27.07%.

Institutional Trading of Civista Bancshares

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Civista Bancshares by 1,092.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock worth $29,938,000 after purchasing an additional 1,350,409 shares during the last quarter. Endeavour Capital Advisors Inc. acquired a new stake in Civista Bancshares in the 3rd quarter valued at about $11,134,000. Alliancebernstein L.P. grew its holdings in Civista Bancshares by 2,904.8% during the third quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank’s stock worth $7,220,000 after purchasing an additional 343,642 shares during the period. Royce & Associates LP bought a new position in Civista Bancshares during the third quarter worth about $5,584,000. Finally, Vanguard Group Inc. increased its position in Civista Bancshares by 19.4% during the third quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock worth $20,752,000 after buying an additional 166,049 shares during the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

About Civista Bancshares

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.