Civista Bancshares, Inc. to Post Q2 2024 Earnings of $0.37 Per Share, DA Davidson Forecasts (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Civista Bancshares in a research note issued to investors on Thursday, May 2nd. DA Davidson analyst M. Navas forecasts that the bank will post earnings of $0.37 per share for the quarter. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.99 per share. DA Davidson also issued estimates for Civista Bancshares’ FY2025 earnings at $2.00 EPS.

A number of other research analysts have also recently issued reports on the company. Piper Sandler began coverage on Civista Bancshares in a research note on Wednesday, February 21st. They set a “neutral” rating and a $18.00 price objective for the company. TheStreet cut Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Stephens decreased their price target on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th. Hovde Group began coverage on Civista Bancshares in a research note on Monday, April 1st. They issued a “market perform” rating and a $16.00 price target for the company. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 price target (down previously from $21.00) on shares of Civista Bancshares in a research note on Wednesday. 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.75.

Civista Bancshares Stock Down 0.4 %

Shares of NASDAQ:CIVB opened at $14.22 on Friday. The stock has a fifty day simple moving average of $14.82 and a two-hundred day simple moving average of $15.87. The stock has a market capitalization of $223.11 million, a price-to-earnings ratio of 6.10 and a beta of 0.79. 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.

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

Institutional Trading of Civista Bancshares

Several hedge funds have recently bought and sold shares of CIVB. Mendon Capital Advisors Corp bought a new stake in Civista Bancshares during the fourth quarter valued at about $3,688,000. Nicholas Hoffman & Company LLC. bought a new position in shares of Civista Bancshares in the third quarter worth about $643,000. Pacific Ridge Capital Partners LLC boosted its stake in shares of Civista Bancshares by 6.0% in the third quarter. Pacific Ridge Capital Partners LLC now owns 400,905 shares of the bank’s stock worth $6,214,000 after acquiring an additional 22,564 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Civista Bancshares in the third quarter worth about $338,000. Finally, Quadrature Capital Ltd bought a new position in shares of Civista Bancshares in the fourth quarter worth about $274,000. Institutional investors own 52.10% of the company’s stock.

Insider Buying and Selling

In other news, SVP Michael D. Mulford acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $31,640. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.01% of the stock is currently owned by corporate insiders.

Civista Bancshares Dividend Announcement

The company also recently disclosed 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. This represents a $0.64 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Monday, May 6th. Civista Bancshares’s payout ratio is currently 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.