Civista Bancshares, Inc. (NASDAQ:CIVB – Get Rating) – Investment analysts at DA Davidson issued their Q2 2023 earnings estimates for Civista Bancshares in a research note issued on Tuesday, May 2nd. DA Davidson analyst M. Navas forecasts that the bank will post earnings per share of $0.75 for the quarter. The consensus estimate for Civista Bancshares’ current full-year earnings is $3.12 per share. DA Davidson also issued estimates for Civista Bancshares’ FY2024 earnings at $3.20 EPS.
Civista Bancshares (NASDAQ:CIVB – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Civista Bancshares had a return on equity of 12.44% and a net margin of 26.23%. The business had revenue of $42.63 million during the quarter, compared to the consensus estimate of $38.95 million.
Civista Bancshares Price Performance
CIVB stock opened at $14.64 on Wednesday. The firm has a market cap of $230.14 million, a P/E ratio of 5.71 and a beta of 0.77. The stock’s 50 day moving average price is $17.81 and its 200 day moving average price is $20.83. Civista Bancshares has a 1 year low of $14.02 and a 1 year high of $24.28. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.96 and a current ratio of 0.96.
Civista Bancshares Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Tuesday, May 9th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 8th. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 4.10%. Civista Bancshares’s dividend payout ratio is currently 21.62%.
Insiders Place Their Bets
In other news, Director Gerald B. Wurm purchased 2,000 shares of the company’s stock in a transaction on Thursday, March 23rd. The stock was bought at an average cost of $17.80 per share, for a total transaction of $35,600.00. Following the completion of the purchase, the director now directly owns 41,573 shares of the company’s stock, valued at approximately $739,999.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Gerald B. Wurm bought 2,000 shares of the stock in a transaction dated Thursday, March 23rd. The stock was acquired at an average price of $17.80 per share, for a total transaction of $35,600.00. Following the completion of the purchase, the director now owns 41,573 shares in the company, valued at $739,999.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julie A. Mattlin bought 1,300 shares of the stock in a transaction dated Thursday, February 23rd. The stock was bought at an average price of $21.82 per share, with a total value of $28,366.00. Following the purchase, the director now owns 8,567 shares of the company’s stock, valued at approximately $186,931.94. The disclosure for this purchase can be found here. Insiders bought 4,300 shares of company stock worth $81,516 over the last three months. 2.76% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CIVB. Financial Management Professionals Inc. purchased a new stake in shares of Civista Bancshares during the fourth quarter valued at $27,000. Fifth Third Bancorp purchased a new stake in Civista Bancshares in the 3rd quarter worth about $30,000. Allspring Global Investments Holdings LLC increased its position in Civista Bancshares by 172.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,790 shares of the bank’s stock worth $30,000 after purchasing an additional 1,133 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Civista Bancshares by 244.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,565 shares of the bank’s stock worth $54,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Civista Bancshares in the 1st quarter worth about $70,000. Institutional investors and hedge funds own 49.96% of the company’s stock.
Civista Bancshares Company Profile
Civista Bancshares, Inc is a financial holding company engaged in the community banking business. It offers financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland. The firm’s primary deposit products are checking, savings, and term certificate accounts, and its lending products are residential mortgage, commercial and installment loans.
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