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

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have been assigned an average rating of “Hold” from the four ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $17.75.

CIVB has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price target (down previously from $21.00) on shares of Civista Bancshares in a report on Wednesday, May 1st. Stephens reduced their target price on shares of Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Piper Sandler began coverage on shares of Civista Bancshares in a report on Wednesday, February 21st. They issued a “neutral” rating and a $18.00 price target on the stock. TheStreet cut Civista Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. Finally, Hovde Group started coverage on Civista Bancshares in a research note on Monday, April 1st. They set a “market perform” rating and a $16.00 target price on the stock.

Insiders Place Their Bets

In other Civista Bancshares news, SVP Michael D. Mulford purchased 2,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $15.82 per share, with a total value of $31,640.00. Following the acquisition, the senior vice president now owns 2,000 shares of the company’s stock, valued at $31,640. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.01% of the company’s stock.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in CIVB. Allspring Global Investments Holdings LLC grew its stake in shares of Civista Bancshares by 294.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock worth $38,000 after buying an additional 1,830 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Civista Bancshares during the 4th quarter valued at $109,000. SG Americas Securities LLC bought a new stake in Civista Bancshares during the 3rd quarter worth $104,000. Gendell Jeffrey L acquired a new position in Civista Bancshares in the 4th quarter worth about $184,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Civista Bancshares in the third quarter valued at about $160,000. 52.10% of the stock is owned by institutional investors.

Civista Bancshares Stock Down 3.0 %

Civista Bancshares stock opened at $13.81 on Wednesday. Civista Bancshares has a fifty-two week low of $13.71 and a fifty-two week high of $19.80. The firm has a market capitalization of $216.68 million, a PE ratio of 5.93 and a beta of 0.79. The company’s 50-day moving average is $14.78 and its 200-day moving average is $15.86. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.96 and a quick ratio of 0.96.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Civista Bancshares had a return on equity of 10.36% and a net margin of 16.38%. The business had revenue of $58.63 million for the quarter, compared to analyst estimates of $38.01 million. During the same period last year, the firm earned $0.82 EPS. Sell-side analysts anticipate that Civista Bancshares will post 1.91 earnings per share for the current year.

Civista Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.64 annualized dividend and a yield of 4.63%. Civista Bancshares’s dividend payout ratio is currently 27.47%.

About Civista Bancshares

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.