Civista Bancshares (NASDAQ:CIVB) Receives Outperform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of Civista Bancshares (NASDAQ:CIVB) in a research report report published on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has a $18.00 target price on the bank’s stock, down from their previous target price of $21.00.

CIVB has been the topic of several other reports. Piper Sandler began coverage on shares of Civista Bancshares in a research note on Wednesday, February 21st. They issued a neutral rating and a $18.00 price target on the stock. TheStreet lowered shares of Civista Bancshares from a b- rating to a c+ rating in a research note on Thursday, March 7th. Hovde Group started coverage on shares of Civista Bancshares in a research note on Monday, April 1st. They issued a market perform rating and a $16.00 price target on the stock. Finally, Stephens lowered their target price on shares of Civista Bancshares from $20.00 to $19.00 and set an equal weight rating on the stock in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Civista Bancshares has a consensus rating of Hold and an average target price of $17.75.

Civista Bancshares Price Performance

Shares of NASDAQ:CIVB opened at $14.28 on Wednesday. The firm’s 50 day moving average price is $14.86 and its 200 day moving average price is $15.89. The stock has a market cap of $224.05 million, a price-to-earnings ratio of 5.21 and a beta of 0.78. Civista Bancshares has a fifty-two week low of $13.99 and a fifty-two week high of $19.80. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.22.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The firm had revenue of $58.63 million during the quarter, compared to analyst estimates of $38.01 million. Civista Bancshares had a net margin of 19.85% and a return on equity of 12.26%. During the same period last year, the business earned $0.82 EPS. As a group, equities research analysts predict that Civista Bancshares will post 2.05 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 7th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Monday, May 6th. Civista Bancshares’s dividend payout ratio is presently 23.36%.

Insider Buying and Selling

In related news, SVP Michael D. Mulford purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $15.82 per share, with a total value of $31,640.00. Following the completion of the acquisition, the senior vice president now directly owns 2,000 shares in the company, valued at $31,640. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.01% of the company’s stock.

Institutional Investors Weigh In On Civista Bancshares

Hedge funds have recently modified their holdings of the stock. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Civista Bancshares by 6.0% during the third quarter. Pacific Ridge Capital Partners LLC now owns 400,905 shares of the bank’s stock worth $6,214,000 after purchasing an additional 22,564 shares during the period. SG Americas Securities LLC lifted its holdings in Civista Bancshares by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 8,458 shares of the bank’s stock valued at $156,000 after acquiring an additional 1,736 shares during the period. Nicholas Hoffman & Company LLC. acquired a new stake in Civista Bancshares in the third quarter valued at $643,000. Assenagon Asset Management S.A. lifted its holdings in Civista Bancshares by 60.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,890 shares of the bank’s stock valued at $643,000 after acquiring an additional 13,115 shares during the period. Finally, Barclays PLC lifted its holdings in Civista Bancshares by 8.8% in the third quarter. Barclays PLC now owns 23,522 shares of the bank’s stock valued at $363,000 after acquiring an additional 1,900 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.

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.