Civista Bancshares, Inc. (NASDAQ:CIVB) Given Average Rating of “Hold” by Analysts

Civista Bancshares, Inc. (NASDAQ:CIVB) has received an average rating of “Hold” from the four ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $17.75.

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

Civista Bancshares Stock Down 0.4 %

Civista Bancshares stock opened at $14.22 on Wednesday. The business’s 50-day simple moving average is $14.82 and its two-hundred day simple moving average is $15.87. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $223.11 million, a PE ratio of 6.10 and a beta of 0.79. Civista Bancshares has a fifty-two week low of $13.99 and a fifty-two week high of $19.80.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Tuesday, April 30th. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The firm had revenue of $58.63 million for the quarter, compared to analyst estimates 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 last year, the firm earned $0.82 EPS. Equities analysts anticipate that Civista Bancshares will post 1.91 EPS 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 issued a $0.16 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.64 dividend on an annualized basis and a yield of 4.50%. Civista Bancshares’s payout ratio is 27.47%.

Insiders Place Their Bets

In other Civista Bancshares news, SVP Michael D. Mulford purchased 2,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $15.82 per share, for a total transaction of $31,640.00. Following the completion of the transaction, the senior vice president now owns 2,000 shares of the company’s stock, valued at approximately $31,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.01% of the company’s stock.

Hedge Funds Weigh In On Civista Bancshares

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Civista Bancshares during the third quarter worth about $104,000. Raymond James Financial Services Advisors Inc. purchased a new position in Civista Bancshares in the 3rd quarter valued at $160,000. Bank of New York Mellon Corp boosted its stake in Civista Bancshares by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 84,954 shares of the bank’s stock worth $1,317,000 after purchasing an additional 3,178 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 in the last quarter. Finally, Watershed Asset Management L.L.C. purchased a new stake in shares of Civista Bancshares during the third quarter worth $229,000. 52.10% of the stock is currently owned by institutional investors and hedge funds.

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.