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

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $26.00.

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

Civista Bancshares Stock Performance

Civista Bancshares stock opened at $23.82 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $460.04 million, a P/E ratio of 8.95 and a beta of 0.70. Civista Bancshares has a 1-year low of $17.47 and a 1-year high of $25.59. The company’s 50-day moving average is $23.39 and its 200 day moving average is $22.07.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. Civista Bancshares had a return on equity of 11.14% and a net margin of 18.12%.The firm had revenue of $46.34 million for the quarter, compared to analysts’ expectations of $45.43 million. Research analysts forecast that Civista Bancshares will post 2.28 EPS for the current year.

Civista Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, February 10th. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.17. Civista Bancshares’s dividend payout ratio (DPR) is 27.07%.

Hedge Funds Weigh In On Civista Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in CIVB. NewEdge Advisors LLC raised its holdings in shares of Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after acquiring an additional 481 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Civista Bancshares by 5.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock valued at $179,000 after purchasing an additional 485 shares during the period. Barclays PLC raised its holdings in shares of Civista Bancshares by 0.9% in the 3rd quarter. Barclays PLC now owns 54,603 shares of the bank’s stock valued at $1,109,000 after purchasing an additional 498 shares in the last quarter. CWM LLC lifted its position in shares of Civista Bancshares by 23.8% in the 2nd quarter. CWM LLC now owns 3,819 shares of the bank’s stock worth $89,000 after purchasing an additional 735 shares during the period. Finally, Vista Investment Management lifted its position in shares of Civista Bancshares by 5.3% in the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock worth $404,000 after purchasing an additional 915 shares during the period. Institutional investors 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.