Civista Bancshares, Inc. (NASDAQ:CIVB) Receives $26.00 Consensus Target Price from Brokerages

Civista Bancshares, Inc. (NASDAQ:CIVB) has been given a consensus rating of “Hold” by the seven research firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $26.00.

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

Civista Bancshares Price Performance

NASDAQ:CIVB opened at $22.43 on Friday. The firm has a market capitalization of $465.20 million, a price-to-earnings ratio of 8.43 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day moving average of $23.38 and a 200 day moving average of $22.41. Civista Bancshares has a 52-week low of $17.47 and a 52-week high of $25.59.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. The company had revenue of $46.34 million during the quarter, compared to analyst estimates of $45.43 million. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%. On average, research analysts expect that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Civista Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 10th. Civista Bancshares’s payout ratio is 27.07%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in Civista Bancshares by 1,092.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock valued at $29,938,000 after acquiring an additional 1,350,409 shares during the period. Endeavour Capital Advisors Inc. bought a new position in shares of Civista Bancshares in the third quarter worth approximately $11,134,000. Alliancebernstein L.P. increased its stake in shares of Civista Bancshares by 2,904.8% in the third quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank’s stock worth $7,220,000 after buying an additional 343,642 shares during the period. Royce & Associates LP purchased a new position in shares of Civista Bancshares in the third quarter worth $5,584,000. Finally, Vanguard Group Inc. raised its holdings in Civista Bancshares by 19.4% during the 3rd 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. Hedge funds and other institutional investors own 52.10% of the company’s stock.

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.