Civista Bancshares, Inc. (NASDAQ:CIVB) Given Average Recommendation of “Moderate Buy” by Analysts

Civista Bancshares, Inc. (NASDAQ:CIVB) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $30.25.

Several research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. DA Davidson upped their target price on shares of Civista Bancshares from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Zacks Research cut shares of Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Piper Sandler raised their price target on shares of Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, July 27th.

Civista Bancshares Stock Down 0.2%

Shares of NASDAQ:CIVB opened at $27.54 on Tuesday. Civista Bancshares has a 1 year low of $19.82 and a 1 year high of $29.97. The company has a market capitalization of $572.56 million, a PE ratio of 10.20 and a beta of 0.66. The business has a fifty day moving average price of $28.18 and a two-hundred day moving average price of $25.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.95 and a quick ratio of 0.94.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The company had revenue of $47.60 million during the quarter, compared to the consensus estimate of $48.08 million. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%. Analysts forecast that Civista Bancshares will post 2.83 earnings per share for the current year.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, August 4th. Civista Bancshares’s payout ratio is presently 26.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its holdings in shares of Civista Bancshares by 57.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after buying an additional 481 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Civista Bancshares by 306.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Civista Bancshares by 628.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after purchasing an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Civista Bancshares by 111.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock valued at $81,000 after purchasing an additional 2,107 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Civista Bancshares during the 2nd quarter valued at about $85,000. Hedge funds and other 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.