Brokerages forecast that Civista Bancshares Inc (NASDAQ:CIVB) will announce $27.22 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Civista Bancshares’ earnings, with estimates ranging from $27.00 million to $27.44 million. Civista Bancshares posted sales of $20.39 million in the same quarter last year, which would indicate 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.
On average, analysts expect that Civista Bancshares will report full-year sales of $104.71 million for the current fiscal year, with estimates ranging from $104.20 million to $105.22 million. For the next financial year, analysts forecast that the firm will post 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 that provide coverage for Civista Bancshares.
Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Friday, February 15th. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. Civista Bancshares had a net margin of 15.40% and a return on equity of 11.07%. The firm had revenue of $25.58 million for the quarter, compared to the consensus estimate of $23.96 million.
A number of research firms recently commented on CIVB. TheStreet raised shares of Civista Bancshares from a “c+” rating to a “b” rating in a research note on Friday, February 15th. BidaskClub raised shares of Civista Bancshares from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Zacks Investment Research raised shares of Civista Bancshares from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a research note on Thursday, February 21st. Finally, ValuEngine raised shares of Civista Bancshares from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $26.50.
Shares of CIVB stock traded down $0.92 during trading hours on Wednesday, reaching $21.27. 18,068 shares of the stock were exchanged, compared to its average volume of 38,176. Civista Bancshares has a 12-month low of $15.55 and a 12-month high of $25.88. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.77. The stock has a market cap of $340.39 million, a PE ratio of 11.50, a P/E/G ratio of 1.37 and a beta of 0.82.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Tuesday, April 23rd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, April 22nd. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.07%. Civista Bancshares’s payout ratio is currently 19.46%.
In related news, insider W Michael Mclaughlin sold 11,000 shares of Civista Bancshares stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $21.11, for a total transaction of $232,210.00. Following the completion of the transaction, the insider now directly owns 12,287 shares of the company’s stock, valued at approximately $259,378.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.45% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its position 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 period. Legal & General Group Plc boosted its position 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 period. Metropolitan Life Insurance Co. NY boosted its position 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 period. Brandywine Global Investment Management LLC boosted its position 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 period. Finally, Barclays PLC boosted its position 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 period. 51.92% of the stock is owned by institutional investors.
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.
Read More: How to calculate compound interest
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Civista Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Civista Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.