Zacks: Brokerages Expect Civista Bancshares Inc (NASDAQ:CIVB) Will Post Earnings of $0.32 Per Share

Wall Street analysts expect Civista Bancshares Inc (NASDAQ:CIVB) to announce earnings of $0.32 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Civista Bancshares’ earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.15. Civista Bancshares posted earnings per share of $0.46 in the same quarter last year, which would indicate a negative year-over-year growth rate of 30.4%. The company is scheduled to issue its next earnings report before the market opens on Friday, October 23rd.

On average, analysts expect that Civista Bancshares will report full-year earnings of $1.72 per share for the current financial year, with EPS estimates ranging from $1.57 to $1.88. For the next fiscal year, analysts anticipate that the company will post earnings of $1.54 per share, with EPS estimates ranging from $1.29 to $1.70. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Civista Bancshares.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Friday, July 24th. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.11. Civista Bancshares had a net margin of 24.31% and a return on equity of 9.09%. The business had revenue of $28.93 million for the quarter, compared to analyst estimates of $27.55 million.

CIVB has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Civista Bancshares from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, September 30th. Piper Sandler dropped their price target on Civista Bancshares from $16.50 to $14.50 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th. Boenning Scattergood began coverage on Civista Bancshares in a research report on Thursday, September 24th. They issued an “outperform” rating and a $18.75 price objective for the company. Stephens began coverage on shares of Civista Bancshares in a report on Tuesday, July 7th. They set an “overweight” rating and a $19.00 target price on the stock. Finally, ValuEngine lowered shares of Civista Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $16.05.

Shares of NASDAQ CIVB opened at $14.28 on Thursday. Civista Bancshares has a twelve month low of $11.25 and a twelve month high of $24.32. The stock has a market cap of $229.24 million, a price-to-earnings ratio of 7.89 and a beta of 0.89. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.00. The company’s fifty day moving average is $13.19 and its 200-day moving average is $14.10.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 20th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Monday, October 19th. Civista Bancshares’s dividend payout ratio is presently 21.89%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mendon Capital Advisors Corp acquired a new stake in shares of Civista Bancshares in the second quarter valued at approximately $1,540,000. Russell Investments Group Ltd. lifted its stake in Civista Bancshares by 71.0% in the second quarter. Russell Investments Group Ltd. now owns 235,509 shares of the bank’s stock valued at $3,623,000 after acquiring an additional 97,764 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Civista Bancshares in the second quarter valued at $763,000. Goldman Sachs Group Inc. grew its position in shares of Civista Bancshares by 228.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 66,696 shares of the bank’s stock valued at $1,027,000 after acquiring an additional 46,401 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Civista Bancshares by 32.9% during the 1st quarter. Alliancebernstein L.P. now owns 149,258 shares of the bank’s stock worth $2,233,000 after purchasing an additional 36,960 shares during the last quarter. Hedge funds and other institutional investors own 54.56% of the company’s stock.

About Civista Bancshares

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

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