Analysts expect Civista Bancshares, Inc. (NASDAQ:CIVB) to post $17.58 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Civista Bancshares’ earnings, with estimates ranging from $17.26 million to $17.90 million. Civista Bancshares reported sales of $15.70 million during the same quarter last year, which would suggest a positive year over year growth rate of 12%. The firm is expected to issue its next quarterly earnings report on Friday, January 26th.
On average, analysts expect that Civista Bancshares will report full year sales of $17.58 million for the current financial year, with estimates ranging from $70.14 million to $71.20 million. For the next year, analysts forecast that the business will post sales of $75.76 million per share, with estimates ranging from $75.11 million to $76.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Civista Bancshares.
Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Civista Bancshares had a return on equity of 10.66% and a net margin of 21.56%. The firm had revenue of $17.15 million during the quarter, compared to analyst estimates of $17.60 million.
A number of brokerages recently issued reports on CIVB. Sandler O’Neill restated a “buy” rating and set a $25.00 price objective (up previously from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Keefe, Bruyette & Woods restated a “buy” rating and set a $24.00 price objective on shares of Civista Bancshares in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Civista Bancshares from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Boenning Scattergood set a $24.00 price objective on shares of Civista Bancshares and gave the company a “buy” rating in a report on Friday, July 28th. Finally, DA Davidson restated a “neutral” rating and set a $24.50 price objective on shares of Civista Bancshares in a report on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.38.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Monday, October 16th. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.06. Civista Bancshares’s dividend payout ratio is 21.37%.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Civista Bancshares by 33.0% in the second quarter. Vanguard Group Inc. now owns 379,286 shares of the bank’s stock valued at $7,920,000 after buying an additional 94,047 shares during the period. Wellington Management Group LLP acquired a new position in shares of Civista Bancshares in the first quarter valued at approximately $6,596,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Civista Bancshares by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 212,328 shares of the bank’s stock valued at $4,434,000 after buying an additional 15,690 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Civista Bancshares by 6.8% in the first quarter. Renaissance Technologies LLC now owns 209,300 shares of the bank’s stock valued at $4,638,000 after buying an additional 13,300 shares during the period. Finally, Kennedy Capital Management Inc. boosted its holdings in shares of Civista Bancshares by 30.6% in the second quarter. Kennedy Capital Management Inc. now owns 118,160 shares of the bank’s stock valued at $2,467,000 after buying an additional 27,716 shares during the period. 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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