Civista Bancshares Inc (CIVB) Expected to Announce Earnings of $0.57 Per Share

Equities research analysts expect Civista Bancshares Inc (NASDAQ:CIVB) to announce earnings of $0.57 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Civista Bancshares’ earnings, with the highest EPS estimate coming in at $0.58 and the lowest estimate coming in at $0.55. Civista Bancshares reported earnings of $0.55 per share during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The company is scheduled to announce its next earnings report before the market opens on Friday, April 26th.

On average, analysts expect that Civista Bancshares will report full year earnings of $2.03 per share for the current year, with EPS estimates ranging from $2.01 to $2.04. For the next year, analysts anticipate that the business will post earnings of $2.15 per share, with EPS estimates ranging from $2.13 to $2.16. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Civista Bancshares.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Friday, February 15th. The bank reported $0.49 earnings per share for the quarter, beating the 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 business had revenue of $25.58 million for the quarter, compared to analysts’ expectations of $23.96 million.



Several brokerages have weighed in on CIVB. BidaskClub upgraded Civista Bancshares from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. TheStreet upgraded Civista Bancshares from a “c+” rating to a “b” rating in a research note on Friday, February 15th. Zacks Investment Research upgraded Civista Bancshares from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, February 21st. Finally, ValuEngine upgraded Civista Bancshares from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given 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.

In other news, insider W Michael Mclaughlin sold 11,000 shares of Civista Bancshares stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $21.11, for a total transaction of $232,210.00. Following the sale, the insider now directly owns 12,287 shares in the company, valued at approximately $259,378.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.45% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. grew its stake in shares of Civista Bancshares by 474.4% in the fourth quarter. Macquarie Group Ltd. now owns 1,413 shares of the bank’s stock worth $25,000 after acquiring an additional 1,167 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Civista Bancshares by 44.4% during the third quarter. Legal & General Group Plc now owns 2,081 shares of the bank’s stock valued at $50,000 after purchasing an additional 640 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Civista Bancshares by 356.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,896 shares of the bank’s stock valued at $85,000 after purchasing an additional 3,824 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in shares of Civista Bancshares by 57.9% during the fourth quarter. Brandywine Global Investment Management LLC now owns 5,724 shares of the bank’s stock valued at $100,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Civista Bancshares by 58.4% in the fourth quarter. Barclays PLC now owns 8,126 shares of the bank’s stock valued at $142,000 after acquiring an additional 2,995 shares during the period. Institutional investors own 51.92% of the company’s stock.

NASDAQ:CIVB traded down $0.16 during trading hours on Monday, hitting $21.70. 305 shares of the company traded hands, compared to its average volume of 45,200. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.77. Civista Bancshares has a one year low of $15.55 and a one year high of $25.88. The stock has a market cap of $338.28 million, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.82.

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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