Equities research analysts predict that Civista Bancshares, Inc. (NASDAQ:CIVB) will report sales of $17.70 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Civista Bancshares’ earnings, with the lowest sales estimate coming in at $17.50 million and the highest estimate coming in at $17.90 million. Civista Bancshares reported sales of $17.02 million in the same quarter last year, which would suggest a positive year over year growth rate of 4%. The company is expected to issue its next quarterly earnings results on Friday, July 28th.
According to Zacks, analysts expect that Civista Bancshares will report full year sales of $17.70 million for the current year, with estimates ranging from $70.00 million to $72.40 million. For the next financial year, analysts forecast that the firm will report sales of $76.85 million per share, with estimates ranging from $76.80 million to $76.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Civista Bancshares.
Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Friday, April 28th. The bank reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $18.03 million during the quarter, compared to analysts’ expectations of $17.92 million. Civista Bancshares had a return on equity of 12.30% and a net margin of 24.39%.
CIVB has been the subject of a number of recent research reports. Zacks Investment Research lowered Civista Bancshares from a “buy” rating to a “strong sell” rating in a research note on Thursday, March 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $24.00 price objective on shares of Civista Bancshares in a research note on Wednesday, April 5th. Finally, DA Davidson reiterated a “neutral” rating and set a $24.50 price objective on shares of Civista Bancshares in a research note on Thursday, April 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $22.31.
In other Civista Bancshares news, Director David A. Voight sold 5,884 shares of Civista Bancshares stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $20.78, for a total transaction of $122,269.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis E. Murray, Jr. acquired 2,000 shares of Civista Bancshares stock in a transaction on Monday, May 15th. The shares were bought at an average price of $21.38 per share, with a total value of $42,760.00. Following the purchase, the director now directly owns 14,023 shares in the company, valued at approximately $299,811.74. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,650 shares of company stock valued at $95,848 in the last quarter. Company insiders own 4.79% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust raised its position in shares of Civista Bancshares by 136.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 121,319 shares of the bank’s stock valued at $2,688,000 after buying an additional 70,000 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Civista Bancshares during the fourth quarter valued at $132,000. LSV Asset Management raised its position in shares of Civista Bancshares by 3.2% in the first quarter. LSV Asset Management now owns 55,500 shares of the bank’s stock valued at $1,229,000 after buying an additional 1,700 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new position in shares of Civista Bancshares during the first quarter valued at $367,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Civista Bancshares during the fourth quarter valued at $229,000. Institutional investors and hedge funds own 34.84% of the company’s stock.
Shares of Civista Bancshares (NASDAQ CIVB) traded down 2.00% during mid-day trading on Friday, reaching $20.09. The company’s stock had a trading volume of 95,300 shares. Civista Bancshares has a 12-month low of $12.02 and a 12-month high of $23.75. The firm’s 50-day moving average price is $20.87 and its 200 day moving average price is $21.00. The firm has a market cap of $204.09 million, a P/E ratio of 13.05 and a beta of 0.42.
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Civista Bancshares Company Profile
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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