Civista Bancshares (NASDAQ:CIVB) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their outperform rating on shares of Civista Bancshares (NASDAQ:CIVB) in a report issued on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $18.00 target price on the bank’s stock, down from their prior target price of $21.00.

Several other brokerages also recently weighed in on CIVB. Hovde Group assumed coverage on Civista Bancshares in a research report on Monday, April 1st. They issued a market perform rating and a $16.00 price objective for the company. Piper Sandler initiated coverage on shares of Civista Bancshares in a research report on Wednesday, February 21st. They set a neutral rating and a $18.00 price target for the company. 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 note on Friday, February 9th. Finally, TheStreet cut Civista Bancshares from a b- rating to a c+ rating in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $17.75.

Civista Bancshares Price Performance

CIVB stock opened at $14.22 on Wednesday. The firm has a market cap of $223.11 million, a P/E ratio of 6.10 and a beta of 0.79. The firm’s fifty day moving average is $14.82 and its 200 day moving average is $15.87. Civista Bancshares has a 52 week low of $13.99 and a 52 week high of $19.80. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.96.

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). Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. The company had revenue of $58.63 million for the quarter, compared to the consensus estimate of $38.01 million. During the same period last year, the business posted $0.82 earnings per share. Research analysts predict that Civista Bancshares will post 1.91 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 7th will be given a dividend of $0.16 per share. 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 dividend payout ratio is currently 27.47%.

Insider Buying and Selling

In other news, SVP Michael D. Mulford acquired 2,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average cost 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 in the company, valued at approximately $31,640. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 3.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently made changes to their positions in CIVB. BNP Paribas Financial Markets lifted its position in Civista Bancshares by 53.3% during the first quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank’s stock valued at $440,000 after buying an additional 9,953 shares during the period. Assenagon Asset Management S.A. lifted its position in Civista Bancshares by 35.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 47,421 shares of the bank’s stock valued at $729,000 after acquiring an additional 12,531 shares during the period. Quadrature Capital Ltd bought a new stake in Civista Bancshares during the fourth quarter worth about $274,000. Wellington Management Group LLP increased its stake in shares of Civista Bancshares by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock valued at $11,164,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Mendon Capital Advisors Corp purchased a new position in shares of Civista Bancshares during the fourth quarter valued at approximately $3,688,000. 52.10% of the stock is currently owned by institutional investors.

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.