Civista Bancshares, Inc. (NASDAQ:CIVB) Given Consensus Rating of “Moderate Buy” by Brokerages

Civista Bancshares, Inc. (NASDAQ:CIVB) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $30.25.

A number of brokerages have weighed in on CIVB. Wall Street Zen lowered Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Civista Bancshares in a research report on Friday, July 24th. DA Davidson upped their target price on Civista Bancshares from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a research report on Wednesday, July 8th. Finally, Piper Sandler raised their price target on Civista Bancshares from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th.

Civista Bancshares Stock Performance

Shares of NASDAQ CIVB opened at $27.44 on Friday. The company has a market cap of $570.48 million, a PE ratio of 10.16 and a beta of 0.65. Civista Bancshares has a 12 month low of $19.82 and a 12 month high of $29.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.95 and a quick ratio of 0.94. The company has a 50-day simple moving average of $28.09 and a 200-day simple moving average of $25.90.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%. The business had revenue of $47.60 million for the quarter, compared to the consensus estimate of $48.08 million. On average, equities analysts anticipate that Civista Bancshares will post 2.83 earnings per share for the current year.

Civista Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, August 4th. Civista Bancshares’s dividend payout ratio is presently 26.67%.

Institutional Investors Weigh In On Civista Bancshares

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in Civista Bancshares by 57.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after purchasing an additional 481 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Civista Bancshares by 5.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock valued at $179,000 after purchasing an additional 485 shares during the last quarter. Barclays PLC grew its stake in shares of Civista Bancshares by 0.9% during the 3rd quarter. Barclays PLC now owns 54,603 shares of the bank’s stock valued at $1,109,000 after buying an additional 498 shares during the period. Vista Investment Management grew its stake in shares of Civista Bancshares by 5.3% during the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock valued at $404,000 after buying an additional 915 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Civista Bancshares by 306.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after buying an additional 1,015 shares during the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

About Civista Bancshares

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.