Civista Bancshares, Inc. to Post FY2024 Earnings of $1.75 Per Share, DA Davidson Forecasts (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Equities researchers at DA Davidson dropped their FY2024 earnings estimates for shares of Civista Bancshares in a note issued to investors on Thursday, May 2nd. DA Davidson analyst M. Navas now expects that the bank will post earnings per share of $1.75 for the year, down from their previous forecast of $2.10. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.91 per share.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 target price (down from $21.00) on shares of Civista Bancshares in a report on Wednesday, May 1st. TheStreet lowered Civista Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. Piper Sandler initiated coverage on Civista Bancshares in a research report on Wednesday, February 21st. They issued a “neutral” rating and a $18.00 target price on the stock. Hovde Group began coverage on shares of Civista Bancshares in a research note on Monday, April 1st. They set a “market perform” rating and a $16.00 price target for the company. Finally, Stephens cut their price objective 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.75.

Civista Bancshares Stock Performance

CIVB stock opened at $13.81 on Monday. Civista Bancshares has a 1-year low of $13.71 and a 1-year high of $19.80. The business’s 50-day moving average price is $14.78 and its two-hundred day moving average price is $15.86. The firm has a market cap of $216.68 million, a PE ratio of 5.93 and a beta of 0.79. 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 results on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Civista Bancshares had a return on equity of 10.36% and a net margin of 16.38%. The firm had revenue of $58.63 million for the quarter, compared to the consensus estimate of $38.01 million. During the same period in the prior year, the business earned $0.82 earnings per share.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Monday, May 6th. Civista Bancshares’s dividend payout ratio is currently 27.47%.

Insider Activity

In other news, SVP Michael D. Mulford purchased 2,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $15.82 per share, with a total value of $31,640.00. Following the completion of the transaction, the senior vice president now owns 2,000 shares of the company’s stock, valued at approximately $31,640. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.01% of the stock is currently owned by insiders.

Institutional Trading of Civista Bancshares

A number of hedge funds have recently made changes to their positions in CIVB. SG Americas Securities LLC lifted its holdings in Civista Bancshares by 25.8% during the 4th quarter. SG Americas Securities LLC now owns 8,458 shares of the bank’s stock valued at $156,000 after purchasing an additional 1,736 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Civista Bancshares by 294.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock worth $38,000 after buying an additional 1,830 shares during the period. Barclays PLC grew its stake in Civista Bancshares by 8.8% in the 3rd quarter. Barclays PLC now owns 23,522 shares of the bank’s stock valued at $363,000 after buying an additional 1,900 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Civista Bancshares by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 84,954 shares of the bank’s stock worth $1,317,000 after acquiring an additional 3,178 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Civista Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock worth $679,000 after acquiring an additional 3,325 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.

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.