Brokerages Set Civista Bancshares, Inc. (NASDAQ:CIVB) PT at $17.67

Civista Bancshares, Inc. (NASDAQ:CIVB) has received an average rating of “Hold” from the four brokerages that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $17.75.

A number of equities analysts have recently commented on CIVB shares. Piper Sandler initiated coverage on shares of Civista Bancshares in a research report on Wednesday, February 21st. They set a “neutral” rating and a $18.00 target price on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price objective (down from $21.00) on shares of Civista Bancshares in a report on Wednesday, May 1st. Stephens lowered their target price 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. TheStreet lowered Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Finally, Hovde Group started 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.

Civista Bancshares Stock Down 3.0 %

Shares of NASDAQ CIVB opened at $13.81 on Wednesday. Civista Bancshares has a 1 year low of $13.71 and a 1 year high of $19.80. The firm has a 50-day simple moving average of $14.78 and a two-hundred day simple moving average of $15.86. The company has a market cap of $216.68 million, a P/E ratio of 5.93 and a beta of 0.79. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.96 and a quick ratio of 0.96.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The business had revenue of $58.63 million for the quarter, compared to analysts’ expectations of $38.01 million. Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. During the same quarter in the previous year, the firm earned $0.82 EPS. Research analysts anticipate that Civista Bancshares will post 1.91 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 7th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.63%. Civista Bancshares’s dividend payout ratio is presently 27.47%.

Insider Transactions at Civista Bancshares

In related news, SVP Michael D. Mulford acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $15.82 per share, with a total value of $31,640.00. Following the completion of the transaction, the senior vice president now directly owns 2,000 shares in the company, valued at $31,640. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.01% of the company’s stock.

Institutional Investors Weigh In On Civista Bancshares

Several institutional investors have recently bought and sold shares of CIVB. Wellington Management Group LLP lifted its holdings in shares of Civista Bancshares by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock valued at $11,164,000 after purchasing an additional 5,400 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in Civista Bancshares by 6.0% in the third quarter. Pacific Ridge Capital Partners LLC now owns 400,905 shares of the bank’s stock valued at $6,214,000 after buying an additional 22,564 shares during the last quarter. Mendon Capital Advisors Corp acquired a new stake in Civista Bancshares in the fourth quarter worth about $3,688,000. Bank of New York Mellon Corp grew its stake in shares of Civista Bancshares by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 84,954 shares of the bank’s stock worth $1,317,000 after acquiring an additional 3,178 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Civista Bancshares by 9.7% during the fourth quarter. Victory Capital Management Inc. now owns 47,700 shares of the bank’s stock valued at $880,000 after acquiring an additional 4,212 shares in the last quarter. 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.