DA Davidson Cuts Earnings Estimates for Civista Bancshares

Civista Bancshares, Inc. (NASDAQ:CIVB) – Equities research analysts at DA Davidson dropped their Q4 2024 earnings estimates for shares of Civista Bancshares in a report issued on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will post earnings per share of $0.53 for the quarter, down from their prior estimate of $0.54. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.91 per share.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The firm had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. During the same quarter last year, the company earned $0.66 earnings per share.

Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their price objective on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Stephens lifted their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Civista Bancshares Price Performance

Civista Bancshares stock opened at $21.33 on Friday. The business has a 50 day simple moving average of $21.29 and a 200 day simple moving average of $18.02. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $335.67 million, a PE ratio of 10.61 and a beta of 0.81. Civista Bancshares has a one year low of $13.60 and a one year high of $23.69.

Civista Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.64 annualized dividend and a yield of 3.00%. Civista Bancshares’s dividend payout ratio (DPR) is 31.84%.

Institutional Investors Weigh In On Civista Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Civista Bancshares during the third quarter valued at approximately $45,000. SG Americas Securities LLC bought a new position in Civista Bancshares in the 3rd quarter valued at $102,000. Princeton Capital Management LLC acquired a new stake in shares of Civista Bancshares in the 2nd quarter valued at $189,000. Allspring Global Investments Holdings LLC raised its position in shares of Civista Bancshares by 10,347.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after acquiring an additional 12,624 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Civista Bancshares by 4.4% during the third quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock valued at $248,000 after acquiring an additional 589 shares during the period. Institutional investors and hedge funds own 52.10% of the company’s stock.

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.