Civista Bancshares, Inc. (NASDAQ:CIVB – Get Rating) – DA Davidson analysts raised their earnings per share (EPS) estimates for fiscal 2022 for Civista Bancshares in a research report released Wednesday, March 30. DA Davidson analyst R. Gunther now expects the bank to earn $2.20 per share for the year, up from his previous estimate of $2.12. DA Davidson has a “Buy” rating on the stock. DA Davidson also released earnings estimates for Civista Bancshares for fiscal year 2023 at $2.80 EPS. Civista Bancshares (NASDAQ:CIVB – Get Rating) last released its quarterly earnings data on Friday, February 4. The bank reported earnings per share (EPS) of $0.73 for the quarter, beating the consensus estimate of $0.60 by $0.13. Civista Bancshares had a return on equity of 11.53% and a net margin of 30.44%. The company posted revenue of $30.13 million for the quarter, versus a consensus estimate of $30.40 million. During the same period of the previous year, the company achieved EPS of $0.64.
Several other equity research analysts have also recently published reports on CIVB. Zacks Investment Research upgraded shares of Civista Banc from a “hold” rating to a “buy” rating and set a price target of $27.00 on the stock in a Tuesday, March 15 report. StockNews.com began covering Civista Bancshares in a report on Thursday. They issued a “buy” rating for the company.
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CIVB stock opened at $24.10 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt ratio of 0.50. Civista Bancshares has a 52-week low of $21.40 and a 52-week high of $25.94. The stock’s 50-day moving average is $24.20 and its two-hundred-day moving average is $24.22. The company has a market capitalization of $359.55 million, a PE ratio of 9.13 and a beta of 0.88.
A number of large investors have recently increased or reduced their stake in CIVB. Susquehanna International Group LLP acquired a new position in Civista Bancshares during Q4, valued at approximately $1,433,000. LSV Asset Management increased its position in Cavista Bancshares by 77.0% during the 4th quarter. LSV Asset Management now owns 132,332 shares of the bank valued at $3,229,000 after purchasing an additional 57,581 shares during the period. Assenagon Asset Management SA acquired a new position in Cavista Bancshares during the 4th quarter, valued at approximately $768,000. Monarch Partners Asset Management LLC increased its position in Cavista Bancshares by 32.9% during the third quarter. Monarch Partners Asset Management LLC now owns 115,549 shares of the bank valued at $2,684,000 after purchasing an additional 28,597 shares during the period. Finally, Millennium Management LLC strengthened its position in Civista Bancshares by 145.0% in the 3rd quarter. Millennium Management LLC now owns 47,205 shares of the bank valued at $1,097,000 after purchasing an additional 27,937 shares during the period. Institutional investors and hedge funds own 52.72% of the company’s shares.
In other news, Director Allen R. Nickles sold 5,000 shares of the company in a trade that took place on Tuesday, March 1. The stock was sold at an average price of $24.09, for a total value of $120,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. 3.05% of the shares are currently held by insiders.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 1. Shareholders of record on Tuesday, February 15 received a dividend of $0.14. The ex-dividend date was Monday, February 14. This represents a dividend of $0.56 on an annualized basis and a dividend yield of 2.32%. The dividend payout ratio (DPR) of Civista Bancshares is 21.21%.
About Civista Bancshares (Get a rating)
Civista Bancshares, Inc is a financial holding company engaged in community banking business. It provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland. The Company’s primary deposit products are checking, savings and term certificate accounts, and its lending products are residential, commercial and installment mortgages.
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