Civista Bancshares, Inc. (NASDAQ:CIVB) Receives Average Recommendation of “Hold” from Analysts
Civista Bancshares, Inc. (NASDAQ:CIVB) has been given a consensus rating of “Hold” by the six brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $22.06.
CIVB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $24.00 target price on shares of Civista Bancshares in a research note on Sunday, July 30th. Zacks Investment Research cut shares of Civista Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. DA Davidson restated a “neutral” rating and set a $24.50 target price on shares of Civista Bancshares in a research note on Tuesday, July 4th. Finally, Boenning Scattergood set a $24.00 target price on shares of Civista Bancshares and gave the stock a “buy” rating in a research note on Friday, July 28th.
Civista Bancshares (NASDAQ CIVB) traded down 1.18% during mid-day trading on Friday, hitting $19.28. 63,276 shares of the stock traded hands. Civista Bancshares has a 1-year low of $13.71 and a 1-year high of $23.75. The stock has a market cap of $196.08 million, a price-to-earnings ratio of 14.31 and a beta of 0.47. The company’s 50 day moving average price is $20.67 and its 200-day moving average price is $21.32.
Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Friday, July 28th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.04. Civista Bancshares had a return on equity of 11.19% and a net margin of 21.97%. The firm had revenue of $17.47 million for the quarter, compared to the consensus estimate of $17.70 million. Analysts predict that Civista Bancshares will post $1.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Friday, July 14th. Civista Bancshares’s payout ratio is currently 17.65%.
In other news, Director David A. Voight sold 5,884 shares of Civista Bancshares stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $20.78, for a total transaction of $122,269.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dennis E. Murray, Jr. acquired 2,000 shares of Civista Bancshares stock in a transaction dated Monday, May 15th. The shares were bought at an average price of $21.38 per share, for a total transaction of $42,760.00. Following the transaction, the director now owns 14,023 shares of the company’s stock, valued at $299,811.74. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 4,050 shares of company stock worth $82,998. Company insiders own 4.79% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Emerald Mutual Fund Advisers Trust raised its position in Civista Bancshares by 136.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 121,319 shares of the bank’s stock worth $2,688,000 after buying an additional 70,000 shares during the period. O Shaughnessy Asset Management LLC raised its position in Civista Bancshares by 104.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,923 shares of the bank’s stock worth $309,000 after buying an additional 7,127 shares during the period. Wellington Management Group LLP acquired a new position in Civista Bancshares during the first quarter worth $6,596,000. Segantii Capital Management Ltd raised its position in Civista Bancshares by 733.1% in the first quarter. Segantii Capital Management Ltd now owns 11,664 shares of the bank’s stock worth $258,000 after buying an additional 10,264 shares during the period. Finally, LSV Asset Management raised its position in Civista Bancshares by 3.2% in the first quarter. LSV Asset Management now owns 55,500 shares of the bank’s stock worth $1,229,000 after buying an additional 1,700 shares during the period. 34.93% of the stock is owned by hedge funds and other institutional investors.
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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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