Brokers Issue Forecasts for Civista Bancshares, Inc.’s FY2024 Earnings (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Analysts at DA Davidson decreased their FY2024 earnings estimates for Civista Bancshares in a research note issued to investors on Thursday, October 3rd. DA Davidson analyst M. Navas now forecasts that the bank will earn $1.74 per share for the year, down from their previous estimate of $1.75. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.76 per share.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Monday, July 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $61.14 million during the quarter, compared to analyst estimates of $36.57 million. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.24%. During the same quarter in the previous year, the business earned $0.64 EPS.

Several other analysts also recently commented on CIVB. Keefe, Bruyette & Woods restated an “outperform” rating and set a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Piper Sandler increased their price objective on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.25.

Civista Bancshares Stock Up 0.6 %

NASDAQ:CIVB opened at $17.71 on Friday. Civista Bancshares has a 1 year low of $13.60 and a 1 year high of $19.00. The stock has a 50-day moving average price of $16.89 and a two-hundred day moving average price of $15.65. The stock has a market cap of $278.53 million, a price-to-earnings ratio of 7.60 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.

Institutional Trading of Civista Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of CIVB. Rhumbline Advisers raised its stake in Civista Bancshares by 2.6% in the second quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock valued at $375,000 after purchasing an additional 619 shares in the last quarter. Russell Investments Group Ltd. raised its position in Civista Bancshares by 11.3% in the first quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank’s stock valued at $370,000 after purchasing an additional 2,453 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Civista Bancshares by 5.4% in the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock valued at $800,000 after buying an additional 2,650 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Civista Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock valued at $679,000 after acquiring an additional 3,325 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Civista Bancshares by 24.7% in the first quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock worth $283,000 after purchasing an additional 3,672 shares during the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

Insider Buying and Selling at Civista Bancshares

In other news, Director Julie A. Mattlin bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $15.60 per share, with a total value of $31,200.00. Following the completion of the transaction, the director now owns 12,442 shares of the company’s stock, valued at $194,095.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.01% of the company’s stock.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Tuesday, August 6th. Civista Bancshares’s payout ratio is presently 27.47%.

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.