Analysts Set Civista Bancshares, Inc. (NASDAQ:CIVB) Target Price at $18.25

Civista Bancshares, Inc. (NASDAQ:CIVB) has received a consensus recommendation of “Hold” from the four research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $18.25.

A number of equities analysts recently weighed in on CIVB shares. Piper Sandler increased their price target on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th.

Civista Bancshares Stock Up 1.6 %

NASDAQ CIVB opened at $16.20 on Friday. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $19.00. The company has a market capitalization of $254.78 million, a P/E ratio of 6.95 and a beta of 0.82. The company’s 50 day simple moving average is $15.67 and its 200 day simple moving average is $15.23. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.97.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Monday, July 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $61.14 million for the quarter, compared to analysts’ expectations of $36.57 million. Civista Bancshares had a return on equity of 9.34% and a net margin of 14.48%. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts expect that Civista Bancshares will post 1.75 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, August 6th. Civista Bancshares’s dividend payout ratio is currently 27.47%.

Insider Activity at Civista Bancshares

In related news, Director Julie A. Mattlin bought 2,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the transaction, the director now directly owns 12,442 shares in the company, valued at $194,095.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Civista Bancshares

A number of hedge funds have recently modified their holdings of CIVB. EntryPoint Capital LLC acquired a new stake in Civista Bancshares during the first quarter valued at $63,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Civista Bancshares during the 4th quarter worth about $109,000. SG Americas Securities LLC lifted its holdings in shares of Civista Bancshares by 25.8% during the 4th quarter. SG Americas Securities LLC now owns 8,458 shares of the bank’s stock valued at $156,000 after buying an additional 1,736 shares during the last quarter. Gendell Jeffrey L bought a new stake in shares of Civista Bancshares in the 4th quarter valued at approximately $184,000. Finally, Princeton Capital Management LLC acquired a new position in Civista Bancshares in the second quarter worth approximately $189,000. 52.10% of the stock is 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.