Civista Bancshares, Inc. Expected to Earn Q2 2024 Earnings of $0.37 Per Share (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Analysts at DA Davidson issued their Q2 2024 EPS estimates for Civista Bancshares in a research report issued to clients and investors on Thursday, May 2nd. DA Davidson analyst M. Navas anticipates that the bank will post earnings per share of $0.37 for the quarter. The consensus estimate for Civista Bancshares’ current full-year earnings is $2.05 per share. DA Davidson also issued estimates for Civista Bancshares’ FY2025 earnings at $2.00 EPS.

CIVB has been the subject of a number of other reports. TheStreet downgraded shares of Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 price objective (down previously from $21.00) on shares of Civista Bancshares in a research note on Wednesday. Stephens cut their price target on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Hovde Group assumed coverage on shares of Civista Bancshares in a research note on Monday, April 1st. They issued a “market perform” rating and a $16.00 price objective for the company. Finally, Piper Sandler assumed coverage on Civista Bancshares in a report on Wednesday, February 21st. They issued a “neutral” rating and a $18.00 price target on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.75.

Civista Bancshares Price Performance

Shares of Civista Bancshares stock opened at $14.22 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.22. The firm has a market cap of $223.07 million, a PE ratio of 6.10 and a beta of 0.79. Civista Bancshares has a 12-month low of $13.99 and a 12-month high of $19.80. The company’s fifty day simple moving average is $14.84 and its two-hundred day simple moving average is $15.88.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The business had revenue of $58.63 million during the quarter, compared to the consensus estimate of $38.01 million. Civista Bancshares had a return on equity of 10.36% and a net margin of 16.38%. During the same period in the prior year, the firm earned $0.82 earnings per share.

Institutional Trading of Civista Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in CIVB. BNP Paribas Financial Markets raised its stake in shares of Civista Bancshares by 53.3% during the first quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank’s stock valued at $440,000 after acquiring an additional 9,953 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Civista Bancshares by 35.9% in the first quarter. Assenagon Asset Management S.A. now owns 47,421 shares of the bank’s stock valued at $729,000 after acquiring an additional 12,531 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Civista Bancshares in the 4th quarter worth $274,000. Wellington Management Group LLP grew its stake in shares of Civista Bancshares by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock worth $11,164,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Mendon Capital Advisors Corp purchased a new stake in Civista Bancshares during the 4th quarter worth approximately $3,688,000. 52.10% of the stock is currently owned by institutional investors.

Insider Transactions at Civista Bancshares

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

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 7th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Monday, May 6th. Civista Bancshares’s payout ratio is 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.