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

Civista Bancshares, Inc. (NASDAQ:CIVB) has been assigned a consensus recommendation of “Moderate Buy” from the four analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $22.50.

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

Institutional Trading of Civista Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in CIVB. AQR Capital Management LLC bought a new position in shares of Civista Bancshares during the 2nd quarter valued at $323,000. SG Americas Securities LLC purchased a new position in shares of Civista Bancshares during the third quarter valued at about $102,000. Inspire Investing LLC purchased a new position in shares of Civista Bancshares during the third quarter valued at about $926,000. Assenagon Asset Management S.A. grew its position 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 valued at $1,131,000 after purchasing an additional 35,968 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Civista Bancshares by 4.4% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Price Performance

Shares of CIVB opened at $21.37 on Thursday. Civista Bancshares has a 12-month low of $13.60 and a 12-month high of $23.69. The business has a 50-day simple moving average of $21.27 and a two-hundred day simple moving average of $19.51. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. The stock has a market cap of $336.36 million, a PE ratio of 10.58 and a beta of 0.81.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.10. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. Analysts anticipate that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.18%. Civista Bancshares’s dividend payout ratio is 33.66%.

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.