DA Davidson Weighs in on Civista Bancshares, Inc.’s Q3 2024 Earnings (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB) – Stock analysts at DA Davidson issued their Q3 2024 EPS estimates for Civista Bancshares in a research report issued to clients and investors on Wednesday, July 31st. DA Davidson analyst M. Navas expects that the bank will earn $0.44 per share for the quarter. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.78 per share. DA Davidson also issued estimates for Civista Bancshares’ FY2025 earnings at $1.85 EPS.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $19.00 price target (up from $18.00) on shares of Civista Bancshares in a research note on Tuesday. Piper Sandler upped their target price on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.25.

Civista Bancshares Stock Down 3.4 %

Civista Bancshares stock opened at $16.30 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.31. Civista Bancshares has a 1-year low of $13.60 and a 1-year high of $19.00. The company has a fifty day simple moving average of $15.41 and a 200 day simple moving average of $15.34. The company has a market cap of $256.40 million, a P/E ratio of 7.00 and a beta of 0.82.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Monday, July 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.34%. The company had revenue of $61.14 million during the quarter, compared to the consensus estimate of $36.57 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Tuesday, August 6th. Civista Bancshares’s dividend payout ratio (DPR) is presently 27.47%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CIVB. BNP Paribas Financial Markets lifted its stake in Civista Bancshares by 41.1% in the 4th quarter. BNP Paribas Financial Markets now owns 18,660 shares of the bank’s stock valued at $344,000 after purchasing an additional 5,440 shares during the last quarter. SG Americas Securities LLC raised its stake in Civista Bancshares by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 8,458 shares of the bank’s stock valued at $156,000 after buying an additional 1,736 shares during the period. Assenagon Asset Management S.A. raised its stake in Civista Bancshares by 60.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,890 shares of the bank’s stock valued at $643,000 after buying an additional 13,115 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Civista Bancshares in the fourth quarter valued at approximately $109,000. Finally, Empowered Funds LLC boosted its stake in shares of Civista Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock worth $679,000 after acquiring an additional 3,325 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

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.