Civista Bancshares, Inc. (NASDAQ:CIVB) – Research analysts at DA Davidson issued their Q2 2018 earnings per share estimates for shares of Civista Bancshares in a report issued on Tuesday. DA Davidson analyst K. Reevey forecasts that the bank will earn $0.34 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $24.50 target price on the stock. DA Davidson also issued estimates for Civista Bancshares’ Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.34 EPS and FY2019 earnings at $1.48 EPS.
CIVB has been the subject of several other research reports. Sandler O’Neill reiterated a “buy” rating and set a $25.00 price target (up previously from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Boenning Scattergood set a $24.00 price objective on Civista Bancshares and gave the company a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Civista Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $24.00 price objective on shares of Civista Bancshares in a research note on Sunday, July 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $24.38.
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Civista Bancshares (NASDAQ CIVB) traded down 1.06% during trading on Wednesday, hitting $22.33. 12,843 shares of the company traded hands. The stock has a 50-day moving average price of $22.16 and a 200-day moving average price of $21.02. The firm has a market capitalization of $227.10 million, a P/E ratio of 16.58 and a beta of 0.51. Civista Bancshares has a 12-month low of $14.56 and a 12-month high of $23.75.
Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Friday, October 27th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Civista Bancshares had a net margin of 21.56% and a return on equity of 10.66%. The firm had revenue of $17.15 million during the quarter, compared to the consensus estimate of $17.60 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 17th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Monday, October 16th. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.06. Civista Bancshares’s dividend payout ratio is 21.37%.
A number of large investors have recently made changes to their positions in the business. First Trust Advisors LP grew its stake in Civista Bancshares by 25.8% in the 3rd quarter. First Trust Advisors LP now owns 20,035 shares of the bank’s stock valued at $448,000 after purchasing an additional 4,114 shares during the period. California State Teachers Retirement System bought a new position in Civista Bancshares in the 2nd quarter valued at $367,000. The Manufacturers Life Insurance Company grew its stake in Civista Bancshares by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 212,328 shares of the bank’s stock valued at $4,434,000 after purchasing an additional 15,690 shares during the period. State Street Corp bought a new position in Civista Bancshares in the 2nd quarter valued at $2,174,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Civista Bancshares in the 2nd quarter valued at $124,000. Hedge funds and other institutional investors own 41.61% of the company’s stock.
About Civista Bancshares
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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