Civista Bancshares Inc (CIVB) Expected to Announce Quarterly Sales of $27.22 Million

Brokerages expect Civista Bancshares Inc (NASDAQ:CIVB) to announce sales of $27.22 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Civista Bancshares’ earnings, with the highest sales estimate coming in at $27.44 million and the lowest estimate coming in at $27.00 million. Civista Bancshares reported sales of $20.39 million during the same quarter last year, which indicates a positive year over year growth rate of 33.5%. The business is scheduled to announce its next quarterly earnings results before the market opens on Friday, May 3rd.

According to Zacks, analysts expect that Civista Bancshares will report full-year sales of $104.71 million for the current financial year, with estimates ranging from $104.20 million to $105.22 million. For the next financial year, analysts expect that the firm will report sales of $109.54 million, with estimates ranging from $109.47 million to $109.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Civista Bancshares.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Friday, February 15th. The bank reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.08. Civista Bancshares had a return on equity of 11.07% and a net margin of 15.40%. The company had revenue of $25.58 million during the quarter, compared to the consensus estimate of $23.96 million.

A number of equities research analysts have recently weighed in on CIVB shares. Zacks Investment Research downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. TheStreet downgraded Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Friday, December 21st. BidaskClub raised Civista Bancshares from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 20th. Finally, ValuEngine raised Civista Bancshares from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Civista Bancshares presently has a consensus rating of “Hold” and a consensus target price of $26.50.

CIVB opened at $21.92 on Wednesday. Civista Bancshares has a fifty-two week low of $15.55 and a fifty-two week high of $25.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $341.09 million, a PE ratio of 11.85, a PEG ratio of 1.35 and a beta of 0.82.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Tuesday, April 23rd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, April 22nd. Civista Bancshares’s dividend payout ratio (DPR) is presently 19.46%.

In related news, insider W Michael Mclaughlin sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $21.11, for a total value of $232,210.00. Following the transaction, the insider now directly owns 12,287 shares of the company’s stock, valued at approximately $259,378.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.45% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of CIVB. Macquarie Group Ltd. grew its holdings in Civista Bancshares by 474.4% in the 4th quarter. Macquarie Group Ltd. now owns 1,413 shares of the bank’s stock valued at $25,000 after buying an additional 1,167 shares during the last quarter. Legal & General Group Plc grew its holdings in Civista Bancshares by 44.4% in the 3rd quarter. Legal & General Group Plc now owns 2,081 shares of the bank’s stock valued at $50,000 after buying an additional 640 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Civista Bancshares by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,896 shares of the bank’s stock valued at $85,000 after buying an additional 3,824 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in Civista Bancshares by 57.9% in the 4th quarter. Brandywine Global Investment Management LLC now owns 5,724 shares of the bank’s stock valued at $100,000 after buying an additional 2,100 shares during the last quarter. Finally, Barclays PLC grew its holdings in Civista Bancshares by 58.4% in the 4th quarter. Barclays PLC now owns 8,126 shares of the bank’s stock valued at $142,000 after buying an additional 2,995 shares during the last quarter. 51.92% 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 engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.

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