Zacks: Civista Bancshares Inc. (CIVB) Given Average Recommendation of “Hold” by Brokerages
Shares of Civista Bancshares Inc. (NASDAQ:CIVB) have been assigned an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Analysts have set a 1-year consensus target price of $14.25 for the company, according to Zacks. Zacks has also given Civista Bancshares an industry rank of 112 out of 265 based on the ratings given to related companies.
A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Civista Bancshares from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Monday, July 25th. Hovde Group cut their price target on Civista Bancshares from $15.25 to $14.50 and set a “market perform” rating for the company in a report on Monday, July 25th.
In related news, Director Thomas A. Depler sold 4,002 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $14.31, for a total value of $57,268.62. Following the transaction, the director now owns 10,294 shares in the company, valued at $147,307.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.94% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management Inc. boosted its position in Civista Bancshares by 51.6% in the second quarter. Bridgeway Capital Management Inc. now owns 19,100 shares of the company’s stock valued at $250,000 after buying an additional 6,500 shares during the period. Pinnacle Holdings LLC boosted its stake in shares of Civista Bancshares by 16.2% in the second quarter. Pinnacle Holdings LLC now owns 61,552 shares of the company’s stock valued at $806,000 after buying an additional 8,580 shares during the last quarter. HL Financial Services LLC purchased a new stake in shares of Civista Bancshares during the second quarter valued at about $172,000. Renaissance Technologies LLC boosted its stake in shares of Civista Bancshares by 17.2% in the first quarter. Renaissance Technologies LLC now owns 62,000 shares of the company’s stock valued at $639,000 after buying an additional 9,100 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Civista Bancshares by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 35,942 shares of the company’s stock valued at $371,000 after buying an additional 421 shares during the last quarter. Institutional investors and hedge funds own 11.60% of the company’s stock.
Shares of Civista Bancshares (NASDAQ:CIVB) opened at 14.61 on Tuesday. The stock has a market capitalization of $117.27 million, a PE ratio of 9.76 and a beta of 0.65. Civista Bancshares has a 12 month low of $9.75 and a 12 month high of $15.16. The company’s 50 day moving average price is $14.55 and its 200 day moving average price is $12.94.
Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. Civista Bancshares had a return on equity of 13.94% and a net margin of 23.86%. Equities analysts anticipate that Civista Bancshares will post $1.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, October 14th. Civista Bancshares’s dividend payout ratio (DPR) is 16.11%.
About Civista Bancshares
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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