Q4 EPS Estimate for Civista Bancshares Lowered by Analyst

Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) - Research analysts at DA Davidson reduced their Q4 2024 earnings per share estimates for shares of Civista Bancshares in a report issued on Thursday, December 19th. DA Davidson analyst M. Navas now forecasts that the bank will earn $0.53 per share for the quarter, down from their prior forecast of $0.54. The consensus estimate for Civista Bancshares' current full-year earnings is $1.91 per share.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last issued its earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.44 by $0.09. The firm had revenue of $62.43 million during the quarter, compared to the consensus estimate of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. During the same quarter in the prior year, the firm earned $0.66 earnings per share.

Several other equities research analysts also recently issued reports on CIVB. Stephens increased their price target on Civista Bancshares from $18.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Hovde Group upgraded Civista Bancshares from a "market perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Civista Bancshares from $22.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Civista Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $21.75.

Civista Bancshares Trading Up 2.7 %

Shares of CIVB traded up $0.56 during trading hours on Friday, reaching $21.33. The stock had a trading volume of 167,036 shares, compared to its average volume of 43,318. The company has a market cap of $335.67 million, a P/E ratio of 10.61 and a beta of 0.81. Civista Bancshares has a 52 week low of $13.60 and a 52 week high of $23.69. 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 has a 50-day moving average of $21.29 and a 200 day moving average of $18.02.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors 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 payout ratio is presently 31.84%.

Hedge Funds Weigh In On Civista Bancshares

Several hedge funds have recently made changes to their positions in CIVB. Assenagon Asset Management S.A. boosted its stake in shares of 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 buying an additional 35,968 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Civista Bancshares by 30.9% during the second quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank's stock worth $318,000 after acquiring an additional 4,985 shares in the last quarter. Inspire Investing LLC acquired a new position in Civista Bancshares during the third quarter valued at approximately $926,000. Bank of New York Mellon Corp grew its stake in 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 purchasing an additional 4,284 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Civista Bancshares by 4.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank's stock worth $248,000 after purchasing an additional 589 shares during the last quarter. 52.10% of the stock is owned by institutional investors.

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.