Civista Bancshares (CIVB) Releases Earnings Results, Beats Expectations By $0.02 EPS

Civista Bancshares (NASDAQ:CIVB) posted its earnings results on Friday. The bank reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02, MarketWatch Earnings reports. The company had revenue of $19.11 million during the quarter, compared to analyst estimates of $22.16 million. Civista Bancshares had a net margin of 22.09% and a return on equity of 12.18%.

CIVB traded down $0.52 on Friday, hitting $22.95. The company had a trading volume of 20,609 shares, compared to its average volume of 41,087. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.04 and a quick ratio of 1.03. Civista Bancshares has a 52-week low of $20.41 and a 52-week high of $25.88. The firm has a market capitalization of $247.65 million, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.67 and a beta of 0.53.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Tuesday, October 23rd were issued a $0.09 dividend. The ex-dividend date was Monday, October 22nd. This represents a $0.36 annualized dividend and a yield of 1.57%. Civista Bancshares’s dividend payout ratio (DPR) is presently 27.07%.

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in Civista Bancshares by 21.5% in the second quarter. Renaissance Technologies LLC now owns 337,036 shares of the bank’s stock worth $8,170,000 after buying an additional 59,736 shares during the period. Mackay Shields LLC purchased a new stake in Civista Bancshares in the second quarter worth about $305,000. Fort Washington Investment Advisors Inc. OH lifted its holdings in Civista Bancshares by 11.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 89,269 shares of the bank’s stock worth $2,164,000 after buying an additional 8,998 shares during the period. BlackRock Inc. lifted its holdings in Civista Bancshares by 3.5% in the first quarter. BlackRock Inc. now owns 480,500 shares of the bank’s stock worth $10,983,000 after buying an additional 16,092 shares during the period. Finally, Macnealy Hoover Investment Management Inc. lifted its holdings in Civista Bancshares by 1,023.0% in the third quarter. Macnealy Hoover Investment Management Inc. now owns 344,647 shares of the bank’s stock worth $8,302,000 after buying an additional 313,956 shares during the period. Institutional investors and hedge funds own 57.31% of the company’s stock.

A number of research firms have recently weighed in on CIVB. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $31.00 target price on shares of Civista Bancshares in a report on Monday, July 30th. Zacks Investment Research upgraded shares of Civista Bancshares from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Wednesday, August 1st. BidaskClub upgraded shares of Civista Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, September 22nd. Hovde Group reiterated a “hold” rating and set a $26.00 target price on shares of Civista Bancshares in a report on Thursday, August 2nd. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Civista Bancshares in a report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $26.50.

About Civista Bancshares

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.

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Earnings History for Civista Bancshares (NASDAQ:CIVB)

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