Civista Bancshares, Inc. (NASDAQ:CIVB) Stock Has Average Target Price of $30.25 According to Analysts

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $30.25.

CIVB has been the subject of several recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $31.00 target price (up from $29.00) on shares of Civista Bancshares in a research note on Friday, July 24th. DA Davidson boosted their price target on Civista Bancshares from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Civista Bancshares in a research note on Friday, October 2nd. Zacks Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Piper Sandler increased their price objective on Civista Bancshares from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th.

Civista Bancshares Stock Down 2.0%

CIVB stock opened at $26.41 on Wednesday. The company has a fifty day moving average price of $27.50 and a 200 day moving average price of $26.47. Civista Bancshares has a 12 month low of $19.82 and a 12 month high of $29.97. The company has a market cap of $549.06 million, a price-to-earnings ratio of 9.78 and a beta of 0.66. 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 issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The company had revenue of $47.60 million for 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%. Sell-side analysts expect that Civista Bancshares will post 2.83 earnings per share for the current year.

Civista Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, August 4th. Civista Bancshares’s dividend payout ratio is 26.67%.

Institutional Investors Weigh In On Civista Bancshares

Hedge funds have recently modified their holdings of the stock. Mendon Capital Advisors Corp raised its position in Civista Bancshares by 38.3% during the 1st quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock worth $7,104,000 after buying an additional 86,390 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Civista Bancshares in the 2nd quarter worth $2,323,000. Pinnacle Holdings LLC purchased a new stake in shares of Civista Bancshares in the second quarter valued at about $1,663,000. Assenagon Asset Management S.A. purchased a new stake in shares of Civista Bancshares in the first quarter valued at about $433,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Civista Bancshares by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank’s stock worth $21,658,000 after acquiring an additional 40,176 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. It operates primarily through Civista Bank, a community banking institution that provides financial services to individuals, families, businesses and public-sector organizations.

Civista Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate, consumer, agricultural and commercial loans.