Civista Bancshares (NASDAQ:CIVB) Price Target Raised to $25.00

Civista Bancshares (NASDAQ:CIVB) had its target price hoisted by Keefe, Bruyette & Woods from $22.00 to $25.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

Several other equities research analysts have also issued reports on the stock. Stephens lifted their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Hovde Group raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Civista Bancshares Price Performance

CIVB stock opened at $22.61 on Wednesday. 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 12 month low of $13.60 and a 12 month high of $23.69. The firm has a market cap of $355.88 million, a P/E ratio of 11.25 and a beta of 0.81. The company’s 50-day moving average price is $20.38 and its two-hundred day moving average price is $17.49.

Civista Bancshares (NASDAQ:CIVB) last released 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. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The firm had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. During the same period last year, the firm earned $0.66 EPS. On average, analysts anticipate that Civista Bancshares will post 1.91 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.64 annualized dividend and a yield of 2.83%. Civista Bancshares’s dividend payout ratio is presently 31.84%.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Civista Bancshares by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock worth $12,501,000 after buying an additional 8,797 shares during the period. Dimensional Fund Advisors LP boosted its position in Civista Bancshares by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock worth $12,316,000 after buying an additional 6,234 shares during the period. Geode Capital Management LLC boosted its position in Civista Bancshares by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 348,352 shares of the bank’s stock worth $6,208,000 after buying an additional 9,501 shares during the period. State Street Corp boosted its position in Civista Bancshares by 1.1% during the 3rd quarter. State Street Corp now owns 298,557 shares of the bank’s stock worth $5,320,000 after buying an additional 3,112 shares during the period. Finally, Summit Financial Strategies Inc. boosted its position in Civista Bancshares by 3.2% during the 2nd quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank’s stock worth $2,306,000 after buying an additional 4,559 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.