DA Davidson Cuts Earnings Estimates for Civista Bancshares

Civista Bancshares, Inc. (NASDAQ:CIVB) – Equities researchers at DA Davidson decreased their Q4 2024 earnings per share (EPS) estimates for Civista Bancshares in a research note issued to investors on Thursday, December 19th. DA Davidson analyst M. Navas now anticipates 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.

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

CIVB has been the subject of a number of other reports. Hovde Group raised shares of 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, October 30th. Stephens boosted their target price on 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, Keefe, Bruyette & Woods raised their price target on Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Civista Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

Civista Bancshares Stock Down 2.1 %

NASDAQ CIVB opened at $20.77 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares has a 52 week low of $13.60 and a 52 week high of $23.69. The firm has a market capitalization of $326.86 million, a price-to-earnings ratio of 10.33 and a beta of 0.81. The company has a fifty day moving average of $21.22 and a two-hundred day moving average of $17.97.

Institutional Trading of Civista Bancshares

Several institutional investors and hedge funds have recently modified their holdings of CIVB. Assenagon Asset Management S.A. increased its holdings in Civista Bancshares by 130.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock worth $1,131,000 after purchasing an additional 35,968 shares during the period. Hsbc Holdings PLC grew its position in shares of Civista Bancshares by 30.9% during the 2nd quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock worth $318,000 after buying an additional 4,985 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Civista Bancshares during the third quarter valued at $926,000. Bank of New York Mellon Corp raised its holdings in shares of Civista Bancshares by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock valued at $1,831,000 after acquiring an additional 4,284 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Civista Bancshares by 4.4% in 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 in the last quarter. Institutional investors own 52.10% of the company’s stock.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, November 5th. 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.