Civista Bancshares (NASDAQ:CIVB) Price Target Raised to $21.00 at Stephens

Civista Bancshares (NASDAQ:CIVB) had its price objective raised by Stephens from $18.00 to $21.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Piper Sandler boosted their price objective on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $20.36 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $320.47 million, a price-to-earnings ratio of 10.13 and a beta of 0.80. Civista Bancshares has a one year low of $13.60 and a one year high of $20.93. The company has a 50 day moving average price of $17.69 and a 200 day moving average price of $16.12.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.46% and a net margin of 13.12%. The business had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. During the same period last year, the company posted $0.66 EPS. Sell-side analysts anticipate that Civista Bancshares will post 1.76 EPS for the current year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, November 5th. Civista Bancshares’s payout ratio is 31.84%.

Insider Transactions at Civista Bancshares

In other news, Director Julie A. Mattlin bought 2,000 shares of Civista Bancshares stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $15.60 per share, with a total value of $31,200.00. Following the purchase, the director now directly owns 12,442 shares of the company’s stock, valued at approximately $194,095.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.01% of the company’s stock.

Hedge Funds Weigh In On Civista Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Civista Bancshares by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock valued at $12,501,000 after acquiring an additional 8,797 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Civista Bancshares by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock valued at $12,316,000 after purchasing an additional 6,234 shares during the period. Summit Financial Strategies Inc. raised its stake in shares of Civista Bancshares by 3.2% during the second quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank’s stock valued at $2,306,000 after purchasing an additional 4,559 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Civista Bancshares by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock worth $1,831,000 after purchasing an additional 4,284 shares during the period. Finally, Ritholtz Wealth Management increased its stake in Civista Bancshares by 4.3% during the 2nd quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock valued at $1,416,000 after buying an additional 3,800 shares during the period. 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.