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

Civista Bancshares, Inc. (NASDAQ:CIVB) has been assigned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $26.00.

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

Civista Bancshares Price Performance

NASDAQ:CIVB opened at $23.81 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.69. Civista Bancshares has a 52 week low of $17.47 and a 52 week high of $25.59. The stock’s 50-day moving average price is $23.39 and its 200-day moving average price is $22.17. The stock has a market capitalization of $459.77 million, a PE ratio of 8.95 and a beta of 0.70.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.14. The company had revenue of $46.34 million for the quarter, compared to the consensus estimate of $45.43 million. Civista Bancshares had a return on equity of 11.14% and a net margin of 18.12%. As a group, equities analysts expect that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Civista Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.0%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 10th. Civista Bancshares’s dividend payout ratio (DPR) is 27.07%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Civista Bancshares by 1,092.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock valued at $29,938,000 after purchasing an additional 1,350,409 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Civista Bancshares by 19.4% in the third quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock valued at $20,752,000 after buying an additional 166,049 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Civista Bancshares by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 910,154 shares of the bank’s stock worth $20,224,000 after buying an additional 40,491 shares in the last quarter. Endeavour Capital Advisors Inc. acquired a new position in Civista Bancshares during the third quarter worth about $11,134,000. Finally, Geode Capital Management LLC boosted its position in Civista Bancshares by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 462,583 shares of the bank’s stock worth $10,281,000 after acquiring an additional 32,146 shares during the last quarter. 52.10% of the stock is owned by institutional investors and hedge funds.

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.