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

Civista Bancshares, Inc. (NASDAQ:CIVB) has been assigned an average recommendation of “Hold” from the four brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $18.25.

Several research firms have weighed in on CIVB. Piper Sandler lifted their price objective 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 set a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th.

Civista Bancshares Stock Performance

Civista Bancshares stock opened at $17.71 on Friday. The stock’s 50 day simple moving average is $16.89 and its two-hundred day simple moving average is $15.64. 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 stock has a market cap of $278.53 million, a price-to-earnings ratio of 7.60 and a beta of 0.80. Civista Bancshares has a fifty-two week low of $13.60 and a fifty-two week high of $19.00.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The business 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 9.24% and a net margin of 14.48%. During the same period in the previous year, the firm posted $0.64 EPS. As a group, analysts expect that Civista Bancshares will post 1.76 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.64 annualized dividend and a dividend yield of 3.61%. Civista Bancshares’s payout ratio is 27.47%.

Insider Activity

In other Civista Bancshares news, Director Julie A. Mattlin acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $15.60 per share, with a total value of $31,200.00. Following the transaction, the director now owns 12,442 shares of the company’s stock, valued at $194,095.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.01% of the company’s stock.

Hedge Funds Weigh In On Civista Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in Civista Bancshares by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock valued at $375,000 after acquiring an additional 619 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Civista Bancshares by 11.3% during the 1st quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank’s stock valued at $370,000 after buying an additional 2,453 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Civista Bancshares by 5.4% during the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock valued at $800,000 after buying an additional 2,650 shares during the period. Empowered Funds LLC lifted its holdings in shares of Civista Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock valued at $679,000 after buying an additional 3,325 shares during the period. Finally, Quadrature Capital Ltd lifted its holdings in shares of Civista Bancshares by 24.7% during the 1st quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock valued at $283,000 after buying an additional 3,672 shares during the period. 52.10% of the stock is owned by institutional investors.

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.