Brokerages Set Civista Bancshares, Inc. (NASDAQ:CIVB) Price Target at $24.60

Civista Bancshares, Inc. (NASDAQ:CIVB) has earned a consensus rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $26.00.

A number of research analysts recently commented on CIVB shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Keefe, Bruyette & Woods increased their target price on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. DA Davidson reissued a “buy” rating and set a $28.00 price target on shares of Civista Bancshares in a report on Friday, January 30th. Hovde Group upped their price objective on Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Finally, Zacks Research downgraded Civista Bancshares from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $24.56 on Friday. The company has a market cap of $474.25 million, a P/E ratio of 9.23 and a beta of 0.70. The firm has a fifty day moving average price of $23.15 and a 200 day moving average price of $21.66. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. Civista Bancshares has a 12 month low of $17.47 and a 12 month high of $25.59.

Civista Bancshares (NASDAQ:CIVB) last announced 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. Civista Bancshares had a return on equity of 11.14% and a net margin of 18.12%.The company had revenue of $46.34 million during the quarter, compared to the consensus estimate of $45.43 million. Sell-side analysts predict that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be paid a $0.18 dividend. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, February 10th. This represents a $0.72 annualized dividend and a dividend yield of 2.9%. Civista Bancshares’s dividend payout ratio (DPR) is 25.56%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in Civista Bancshares by 12.1% in the 4th quarter. CWM LLC now owns 8,249 shares of the bank’s stock valued at $183,000 after purchasing an additional 893 shares in the last quarter. Penn Capital Management Company LLC boosted its stake in shares of Civista Bancshares by 41.0% in the third quarter. Penn Capital Management Company LLC now owns 18,871 shares of the bank’s stock valued at $383,000 after buying an additional 5,491 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Civista Bancshares by 120.3% during the third quarter. Qube Research & Technologies Ltd now owns 68,667 shares of the bank’s stock worth $1,395,000 after acquiring an additional 37,502 shares during the period. North Reef Capital Management LP acquired a new position in Civista Bancshares during the third quarter worth $605,000. Finally, Maltese Capital Management LLC raised its position in Civista Bancshares by 93.2% in the third quarter. Maltese Capital Management LLC now owns 284,000 shares of the bank’s stock worth $5,768,000 after acquiring an additional 137,000 shares in the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

Civista Bancshares Company Profile

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.