Stock analysts expect Civista Bancshares, Inc. (NASDAQ:CIVB – Get Rating) to post sales of $31.05 million for the current quarter, Zacks reports. Two analysts have made Cavista Bancshares earnings estimates. The highest sales estimate is $31.20 million and the lowest is $30.90 million. Civista Bancshares recorded sales of $33.02 million in the same quarter last year, indicating a negative growth rate of 6% year-over-year. The company is expected to release its next earnings report on Friday, April 22.
According to Zacks, analysts expect Cavista Bancshares to record annual sales of $130.20 million for the current year, with estimates ranging from $129.00 to $131.40 million. For the next fiscal year, analysts expect the company to post sales of $143.65 million, with estimates ranging from $141.90 to $145.40 million. Zacks’ sell calculations are an average average based on a survey of sell-side research firms that provide coverage for Civista Banc shares.
Civista Bancshares (NASDAQ:CIVB – Get Rating) last reported quarterly earnings data on Thursday, February 3. The bank reported earnings per share of $0.73 for the quarter, beating the Zacks consensus estimate of $0.61 by $0.12. Civista Bancshares had a net margin of 30.44% and a return on equity of 11.57%. During the same period last year, the company posted earnings per share of $0.64.
A number of brokerage firms have weighed in on CIVB recently. Zacks Investment Research upgraded shares of Civista Bancshares from a “hold” rating to a “buy” rating and set a price target of $27.00 for the company in a report released Tuesday. DA Davidson reissued a “buy” rating on Civista Bancshares shares in a Wednesday, January 12 report.
In other news, manager Allen R. Nickles sold 5,000 shares in a trade dated Tuesday, March 1. The stock was sold at an average price of $24.09, for a total value of $120,450.00. The sale was disclosed in a document filed with the SEC, which is available via this link. Company insiders hold 2.82% of the company’s shares.
A number of hedge funds and other institutional investors have recently changed their holdings in CIVB. Citigroup Inc. increased its holdings of Cavista Bancshares shares by 144.9% in the third quarter. Citigroup Inc. now owns 1,812 shares of the bank valued at $42,000 after purchasing an additional 1,072 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Cavista Bancshares by 73.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,846 shares of the bank valued at $43,000 after acquiring 783 additional shares last quarter. Metropolitan Life Insurance Co NY increased its holdings in Civista Bancshares by 46,720.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 2,341 shares of the bank worth $52,000 after acquiring 2,336 additional shares last quarter. Hillsdale Investment Management Inc. increased its stake in Civista Bancshares shares by 26.3% during the third quarter. Hillsdale Investment Management Inc. now owns 2,400 shares of the bank worth $56,000 after buying 500 more shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC acquired a new stock position in Cavista Bancshares during the fourth quarter worth $70,000. 52.72% of the shares are held by institutional investors.
NASDAQ:CIVB opened at $24.29 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a leverage ratio of 0.30. The company’s fifty-day moving average price is $24.28. The company has a market capitalization of $364.98 million, a price-earnings ratio of 9.19 and a beta of 0.88. Civista Bancshares has a 52-week low of $21.40 and a 52-week high of $25.94.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 1. Shareholders of record on Tuesday, February 15 received a dividend of $0.14. This represents an annualized dividend of $0.56 and a dividend yield of 2.31%. The ex-dividend date was Monday, February 14. Civista Bancshares’ dividend payout ratio is 21.21%.
About Civista Bancshares (Get an assessment)
Civista Bancshares, Inc is a financial holding company engaged in community banking business. It provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland. The Company’s primary deposit products are checking, savings and term certificate accounts, and its lending products are residential, commercial and installment mortgages.
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