Civista Bancshares, Inc. (CIVB) Expected to Post FY2017 Earnings of $1.27 Per Share

Civista Bancshares, Inc. (NASDAQ:CIVB) – Equities research analysts at Boenning Scattergood dropped their FY2017 earnings estimates for Civista Bancshares in a report issued on Monday. Boenning Scattergood analyst S. Beury now anticipates that the bank will earn $1.27 per share for the year, down from their prior estimate of $1.28. Boenning Scattergood has a “Buy” rating and a $24.00 price objective on the stock. Boenning Scattergood also issued estimates for Civista Bancshares’ Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.32 EPS, Q4 2018 earnings at $0.32 EPS and FY2019 earnings at $1.45 EPS.

CIVB has been the subject of a number of other reports. Sandler O’Neill reiterated a “buy” rating and issued a $25.00 target price (up from $23.50) on shares of Civista Bancshares in a research note on Friday, October 6th. Zacks Investment Research cut shares of Civista Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $24.00 target price on shares of Civista Bancshares in a research note on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.38.

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Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data 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 company had revenue of $17.15 million for the quarter, compared to analysts’ expectations of $17.60 million.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 17th were paid a $0.07 dividend. The ex-dividend date of this dividend was Monday, October 16th. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 1.24%. Civista Bancshares’s dividend payout ratio (DPR) is 21.37%.

A number of hedge funds have recently added to or reduced their stakes in the stock. OxFORD Asset Management LLP boosted its stake in Civista Bancshares by 16.5% in the 2nd quarter. OxFORD Asset Management LLP now owns 27,684 shares of the bank’s stock worth $578,000 after purchasing an additional 3,915 shares in the last quarter. First Trust Advisors LP boosted 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 worth $448,000 after purchasing an additional 4,114 shares in the last quarter. FNY Partners Fund LP acquired a new stake in Civista Bancshares in the 1st quarter worth approximately $110,000. Nationwide Fund Advisors boosted its stake in Civista Bancshares by 15.7% in the 2nd quarter. Nationwide Fund Advisors now owns 39,665 shares of the bank’s stock worth $828,000 after purchasing an additional 5,394 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in Civista Bancshares in the 2nd quarter worth approximately $124,000. Institutional investors own 41.61% of the company’s stock.

Civista Bancshares Company Profile

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.

Earnings History and Estimates for Civista Bancshares (NASDAQ:CIVB)

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