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

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) have received a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $26.00.

A number of equities research analysts have weighed in on the company. Hovde Group boosted their price objective 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. Weiss Ratings restated a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on shares of Civista Bancshares from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, January 30th. DA Davidson reiterated a “buy” rating and issued a $28.00 price target on shares of Civista Bancshares in a research report on Friday, January 30th. Finally, Zacks Research upgraded shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently made changes to their positions in CIVB. Invesco Ltd. increased its position in Civista Bancshares by 21.5% in the 4th quarter. Invesco Ltd. now owns 25,970 shares of the bank’s stock valued at $577,000 after acquiring an additional 4,589 shares during the period. NewEdge Advisors LLC lifted its position in Civista Bancshares by 57.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after acquiring an additional 481 shares during the period. Vista Investment Management grew its stake in shares of Civista Bancshares by 5.3% in the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock valued at $404,000 after purchasing an additional 915 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Civista Bancshares by 48.4% in the fourth quarter. AQR Capital Management LLC now owns 125,835 shares of the bank’s stock valued at $2,796,000 after purchasing an additional 41,047 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Civista Bancshares by 12.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,423 shares of the bank’s stock valued at $254,000 after purchasing an additional 1,227 shares during the period. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Stock Up 3.1%

CIVB opened at $22.53 on Friday. Civista Bancshares has a one year low of $17.47 and a one year high of $25.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $467.27 million, a P/E ratio of 8.47 and a beta of 0.68. The business’s 50-day simple moving average is $23.38 and its 200-day simple moving average is $22.40.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. The firm had revenue of $46.34 million during the quarter, compared to analysts’ expectations of $45.43 million. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%. Analysts anticipate that Civista Bancshares will post 2.28 EPS for the current year.

Civista Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were paid a $0.18 dividend. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, February 10th. Civista Bancshares’s dividend payout ratio (DPR) is presently 27.07%.

Civista Bancshares Company Profile

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.