Analysts Set Civista Bancshares, Inc. (NASDAQ:CIVB) Target Price at $26.00

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $26.00.

Several equities analysts have commented on CIVB shares. Zacks Research raised Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. DA Davidson restated a “buy” rating and set a $28.00 price objective on shares of Civista Bancshares in a research report on Friday, January 30th. Hovde Group upped their target price on Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods raised their target price on Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Civista Bancshares in a report on Monday, December 29th.

Civista Bancshares Trading Down 0.1%

Shares of CIVB stock opened at $24.43 on Tuesday. The firm has a market capitalization of $471.74 million, a P/E ratio of 9.18 and a beta of 0.70. Civista Bancshares has a 1 year low of $17.47 and a 1 year high of $25.59. The firm’s fifty day simple moving average is $23.39 and its 200 day simple moving average is $22.13. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.14. The company had revenue of $46.34 million for the quarter, compared to analyst estimates of $45.43 million. Civista Bancshares had a net margin of 18.12% and a return on equity of 11.14%. As a group, sell-side analysts predict that Civista Bancshares will post 2.28 EPS for the current year.

Civista Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.9%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 10th. Civista Bancshares’s dividend payout ratio (DPR) is currently 27.07%.

Institutional Investors Weigh In On Civista Bancshares

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in shares of Civista Bancshares by 28.0% during the 1st quarter. AQR Capital Management LLC now owns 35,012 shares of the bank’s stock worth $684,000 after buying an additional 7,652 shares during the period. Empowered Funds LLC raised its stake in Civista Bancshares by 22.7% during the first quarter. Empowered Funds LLC now owns 64,535 shares of the bank’s stock worth $1,261,000 after acquiring an additional 11,918 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Civista Bancshares during the first quarter valued at $453,000. Acadian Asset Management LLC lifted its holdings in shares of Civista Bancshares by 15.1% during the first quarter. Acadian Asset Management LLC now owns 33,814 shares of the bank’s stock valued at $659,000 after acquiring an additional 4,426 shares during the period. Finally, CWM LLC boosted its stake in shares of Civista Bancshares by 23.8% in the 2nd quarter. CWM LLC now owns 3,819 shares of the bank’s stock valued at $89,000 after purchasing an additional 735 shares in the last quarter. 52.10% of the stock is currently owned by institutional investors.

About Civista Bancshares

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.