Q4 EPS Estimate for Civista Bancshares Reduced by Analyst

Civista Bancshares, Inc. (NASDAQ:CIVB) – Investment analysts at DA Davidson cut their Q4 2024 earnings per share estimates for shares of Civista Bancshares in a research note issued on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will post earnings of $0.53 per share for the quarter, down from their previous forecast of $0.54. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.91 per share.

A number of other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens lifted their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Hovde Group raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Civista Bancshares Price Performance

NASDAQ CIVB opened at $21.33 on Friday. The firm has a market cap of $335.67 million, a P/E ratio of 10.61 and a beta of 0.81. The stock’s 50-day moving average is $21.29 and its two-hundred day moving average is $18.02. Civista Bancshares has a fifty-two week low of $13.60 and a fifty-two week high of $23.69. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The firm had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. During the same period in the previous year, the company earned $0.66 earnings per share.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of CIVB. Assenagon Asset Management S.A. boosted its holdings in Civista Bancshares by 130.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock valued at $1,131,000 after purchasing an additional 35,968 shares during the period. Hsbc Holdings PLC raised its position in shares of Civista Bancshares by 30.9% during the second quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock valued at $318,000 after buying an additional 4,985 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Civista Bancshares in the third quarter valued at about $926,000. Bank of New York Mellon Corp grew its position in Civista Bancshares by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock worth $1,831,000 after buying an additional 4,284 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Civista Bancshares by 4.4% during the third quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock valued at $248,000 after acquiring an additional 589 shares during the period. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.00%. Civista Bancshares’s dividend payout ratio (DPR) is presently 31.84%.

About Civista Bancshares

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.