Brokerages Set Civista Bancshares, Inc. (NASDAQ:CIVB) Price Target at $17.67

Civista Bancshares, Inc. (NASDAQ:CIVB) has earned an average recommendation of “Hold” from the four ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $17.75.

Several analysts recently issued reports on CIVB shares. Piper Sandler initiated coverage on Civista Bancshares in a research note on Wednesday, February 21st. They set a “neutral” rating and a $18.00 target price on the stock. TheStreet cut shares of Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Hovde Group began coverage on shares of Civista Bancshares in a report on Monday, April 1st. They set a “market perform” rating and a $16.00 price objective for the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price target (down previously from $21.00) on shares of Civista Bancshares in a report on Wednesday. Finally, Stephens lowered their price objective on shares of Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th.

Insiders Place Their Bets

In other Civista Bancshares news, SVP Michael D. Mulford purchased 2,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average price of $15.82 per share, with a total value of $31,640.00. Following the transaction, the senior vice president now owns 2,000 shares of the company’s stock, valued at $31,640. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.01% of the stock is currently owned by company insiders.

Institutional Trading of Civista Bancshares

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in Civista Bancshares by 294.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock worth $38,000 after acquiring an additional 1,830 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Civista Bancshares during the 4th quarter worth approximately $109,000. SG Americas Securities LLC purchased a new position in shares of Civista Bancshares in the third quarter worth $104,000. Gendell Jeffrey L acquired a new stake in shares of Civista Bancshares during the fourth quarter worth $184,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Civista Bancshares during the third quarter valued at $160,000. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $14.22 on Wednesday. Civista Bancshares has a 12 month low of $13.99 and a 12 month high of $19.80. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.22. The stock has a market cap of $223.07 million, a PE ratio of 6.10 and a beta of 0.79. The company’s fifty day moving average price is $14.84 and its 200-day moving average price is $15.88.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. The firm had revenue of $58.63 million for the quarter, compared to analysts’ expectations of $38.01 million. During the same quarter last year, the company posted $0.82 EPS. On average, equities analysts expect that Civista Bancshares will post 2.05 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company 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 $0.16 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.50%. Civista Bancshares’s payout ratio is 27.47%.

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.