Civista Bancshares, Inc. (NASDAQ:CIVB) Receives $22.50 Consensus Target Price from Analysts

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have received an average recommendation of “Moderate Buy” from the four analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $22.50.

Several research analysts have recently issued reports on CIVB shares. Stephens restated an “equal weight” rating and issued a $24.00 target price on shares of Civista Bancshares in a report on Friday, January 31st. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Wednesday, October 30th. StockNews.com raised shares of Civista Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

Civista Bancshares Price Performance

Civista Bancshares stock opened at $21.37 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $336.36 million, a price-to-earnings ratio of 10.58 and a beta of 0.81. The company’s 50 day simple moving average is $21.27 and its 200-day simple moving average is $19.51. Civista Bancshares has a 1 year low of $13.60 and a 1 year high of $23.69.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 EPS for the quarter, topping the consensus estimate of $0.53 by $0.10. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. As a group, equities research analysts expect that Civista Bancshares will post 2.28 earnings per share for the current year.

Civista Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $0.17 per share. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, February 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.18%. Civista Bancshares’s payout ratio is 33.66%.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its stake in Civista Bancshares by 40.7% during the 3rd quarter. Barclays PLC now owns 51,521 shares of the bank’s stock valued at $917,000 after acquiring an additional 14,909 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Civista Bancshares by 130.8% during the third quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock worth $1,131,000 after buying an additional 35,968 shares during the last quarter. State Street Corp lifted its holdings in shares of Civista Bancshares by 1.1% during the third quarter. State Street Corp now owns 298,557 shares of the bank’s stock worth $5,320,000 after buying an additional 3,112 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Civista Bancshares by 2.8% in the third quarter. Geode Capital Management LLC now owns 348,352 shares of the bank’s stock valued at $6,208,000 after purchasing an additional 9,501 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Civista Bancshares by 90.1% during the third quarter. JPMorgan Chase & Co. now owns 25,438 shares of the bank’s stock worth $453,000 after purchasing an additional 12,059 shares during the period. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Company Profile

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.