Civista Bancshares (NASDAQ:CIVB) Given New $33.00 Price Target at DA Davidson

Civista Bancshares (NASDAQ:CIVB) had its target price increased by DA Davidson from $31.00 to $33.00 in a research report report published on Monday, Marketbeat reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other research analysts have also issued reports on the company. Zacks Research lowered Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Piper Sandler increased their price target on Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Civista Bancshares in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.00.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $28.65 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. Civista Bancshares has a 52 week low of $18.94 and a 52 week high of $29.38. The stock has a market capitalization of $595.35 million, a PE ratio of 10.61 and a beta of 0.67. The firm has a 50 day moving average of $27.16 and a two-hundred day moving average of $24.85.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.82%. The business had revenue of $47.60 million during the quarter, compared to the consensus estimate of $48.08 million. On average, research analysts predict that Civista Bancshares will post 2.82 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. Civista Bancshares’s dividend payout ratio (DPR) is presently 26.67%.

Hedge Funds Weigh In On Civista Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Civista Bancshares by 28.0% in the first quarter. AQR Capital Management LLC now owns 35,012 shares of the bank’s stock valued at $684,000 after buying an additional 7,652 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Civista Bancshares by 22.7% during the 1st quarter. Empowered Funds LLC now owns 64,535 shares of the bank’s stock worth $1,261,000 after acquiring an additional 11,918 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Civista Bancshares during the 1st quarter worth about $453,000. Acadian Asset Management LLC increased its holdings in shares of Civista Bancshares by 15.1% in the 1st quarter. Acadian Asset Management LLC now owns 33,814 shares of the bank’s stock valued at $659,000 after acquiring an additional 4,426 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Civista Bancshares in the 2nd quarter valued at about $221,000. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Company Profile

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.