Analysts Set Civista Bancshares, Inc. (NASDAQ:CIVB) Target Price at $23.40

Civista Bancshares, Inc. (NASDAQ:CIVB) has earned a consensus recommendation of “Moderate Buy” from the four ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.40.

A number of brokerages recently issued reports on CIVB. StockNews.com upgraded Civista Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, February 22nd. Keefe, Bruyette & Woods lifted their target price on Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. DA Davidson set a $27.00 target price on Civista Bancshares in a research report on Friday, January 31st. Finally, Stephens reissued an “equal weight” rating and set a $24.00 price target on shares of Civista Bancshares in a research report on Friday, January 31st.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its stake in shares of Civista Bancshares by 40.7% in the 3rd quarter. Barclays PLC now owns 51,521 shares of the bank’s stock valued at $917,000 after purchasing an additional 14,909 shares during the period. Assenagon Asset Management S.A. increased its holdings in Civista Bancshares by 130.8% in the third quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock valued at $1,131,000 after buying an additional 35,968 shares in the last quarter. State Street Corp raised its position in shares of Civista Bancshares by 1.1% in the third quarter. State Street Corp now owns 298,557 shares of the bank’s stock worth $5,320,000 after acquiring an additional 3,112 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Civista Bancshares by 90.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 25,438 shares of the bank’s stock worth $453,000 after acquiring an additional 12,059 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Civista Bancshares by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 348,352 shares of the bank’s stock worth $6,208,000 after acquiring an additional 9,501 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Stock Performance

CIVB opened at $19.77 on Monday. The company has a market cap of $311.12 million, a P/E ratio of 9.79 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm’s 50-day moving average price is $20.86 and its 200-day moving average price is $19.99. Civista Bancshares has a 52-week low of $13.60 and a 52-week high of $23.69.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. As a group, equities analysts anticipate that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Civista Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were given a dividend of $0.17 per share. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Tuesday, February 4th. Civista Bancshares’s dividend payout ratio (DPR) is currently 33.66%.

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.