Stephens Issues Positive Forecast for Civista Bancshares (NASDAQ:CIVB) Stock Price

Civista Bancshares (NASDAQ:CIVB) had its price target increased by Stephens from $18.00 to $21.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other research analysts also recently weighed in on CIVB. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Wednesday. Piper Sandler upped their price target on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $19.00 price target (up from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.25.

Civista Bancshares Trading Up 8.1 %

Shares of NASDAQ:CIVB opened at $20.25 on Wednesday. The stock has a 50 day moving average of $17.54 and a 200 day moving average of $16.05. The company has a market cap of $318.47 million, a PE ratio of 8.69 and a beta of 0.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.64. Civista Bancshares has a 12-month low of $13.60 and a 12-month high of $20.39.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. Civista Bancshares had a return on equity of 9.24% and a net margin of 14.48%. The business had revenue of $62.43 million during the quarter, compared to the consensus estimate of $37.60 million. During the same period in the prior year, the company posted $0.66 EPS. As a group, equities research analysts expect that Civista Bancshares will post 1.76 EPS for the current year.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.64 annualized dividend and a dividend yield of 3.16%. Civista Bancshares’s dividend payout ratio (DPR) is 27.47%.

Insider Transactions at Civista Bancshares

In other news, Director Julie A. Mattlin acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $15.60 per share, with a total value of $31,200.00. Following the acquisition, the director now directly owns 12,442 shares of the company’s stock, valued at approximately $194,095.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.01% of the company’s stock.

Institutional Trading of Civista Bancshares

Several hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in Civista Bancshares during the 1st quarter valued at $63,000. SG Americas Securities LLC purchased a new stake in Civista Bancshares during the 3rd quarter valued at $102,000. Princeton Capital Management LLC purchased a new stake in Civista Bancshares during the 2nd quarter valued at $189,000. Allspring Global Investments Holdings LLC raised its holdings in Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock valued at $197,000 after buying an additional 12,624 shares during the period. Finally, Quadrature Capital Ltd raised its holdings in Civista Bancshares by 24.7% during the 1st quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock valued at $283,000 after buying an additional 3,672 shares during the period. 52.10% of the stock is owned by hedge funds and other 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.