Civista Bancshares, Inc. (CIVB) Scheduled to Post Quarterly Earnings on Thursday
Civista Bancshares, Inc. (NASDAQ:CIVB) is scheduled to announce its earnings results on Thursday, October 19th. Analysts expect the company to announce earnings of $0.29 per share for the quarter.
Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.04). The company had revenue of $17.47 million during the quarter, compared to analyst estimates of $17.70 million. Civista Bancshares had a net margin of 21.97% and a return on equity of 11.19%. On average, analysts expect Civista Bancshares to post $1.27 EPS for the current fiscal year and $1.37 EPS for the next fiscal year.
Civista Bancshares, Inc. (NASDAQ CIVB) opened at 22.91 on Wednesday. Civista Bancshares, Inc. has a one year low of $14.15 and a one year high of $23.75. The firm has a market cap of $232.99 million, a PE ratio of 17.01 and a beta of 0.51. The stock has a 50 day moving average price of $21.39 and a 200 day moving average price of $20.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, October 16th. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.06. Civista Bancshares’s payout ratio is currently 20.59%.
A number of equities research analysts have weighed in on CIVB shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Civista Bancshares in a report on Wednesday, October 4th. Zacks Investment Research raised Civista Bancshares from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $24.50 price objective on shares of Civista Bancshares in a report on Tuesday, July 4th. Boenning Scattergood set a $24.00 price objective on Civista Bancshares and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $25.00 price objective (up previously from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $22.65.
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A hedge fund recently bought a new stake in Civista Bancshares stock. State Street Corp acquired a new stake in Civista Bancshares, Inc. (NASDAQ:CIVB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 104,138 shares of the bank’s stock, valued at approximately $2,174,000. State Street Corp owned approximately 1.02% of Civista Bancshares at the end of the most recent quarter. 42.11% of the stock is currently owned by institutional investors and hedge funds.
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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