Wall Street brokerages expect Civista Bancshares (NASDAQ:CIVB) to post $19.51 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Civista Bancshares’ earnings, with the highest sales estimate coming in at $19.82 million and the lowest estimate coming in at $19.20 million. Civista Bancshares reported sales of $18.03 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.2%. The business is expected to report its next quarterly earnings report before the market opens on Friday, April 27th.
According to Zacks, analysts expect that Civista Bancshares will report full-year sales of $86.11 million for the current year, with estimates ranging from $84.22 million to $88.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $104.07 million per share, with estimates ranging from $102.54 million to $105.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Civista Bancshares.
Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Friday, January 26th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.10. Civista Bancshares had a return on equity of 10.08% and a net margin of 21.18%. The business had revenue of $18.19 million during the quarter, compared to analysts’ expectations of $17.71 million.
A number of research firms recently issued reports on CIVB. Zacks Investment Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 3rd. Sandler O’Neill set a $26.00 price target on Civista Bancshares and gave the company a “buy” rating in a report on Wednesday, March 14th. Boenning Scattergood set a $24.00 price target on Civista Bancshares and gave the company a “buy” rating in a report on Thursday, March 15th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $27.00 price target on shares of Civista Bancshares in a report on Friday, January 26th. Finally, Hovde Group set a $24.00 price target on Civista Bancshares and gave the company a “hold” rating in a report on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.08.
Shares of Civista Bancshares stock traded down $0.41 during trading on Friday, reaching $22.96. The company’s stock had a trading volume of 18,254 shares, compared to its average volume of 39,760. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.61. Civista Bancshares has a one year low of $18.82 and a one year high of $24.69. The stock has a market capitalization of $238.59, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.83 and a beta of 0.39.
A number of large investors have recently made changes to their positions in CIVB. State Street Corp bought a new stake in Civista Bancshares during the 2nd quarter worth about $2,174,000. California State Teachers Retirement System bought a new stake in Civista Bancshares during the 2nd quarter worth about $367,000. First Trust Advisors LP raised its holdings in Civista Bancshares by 25.8% during the 3rd quarter. First Trust Advisors LP now owns 20,035 shares of the bank’s stock worth $448,000 after purchasing an additional 4,114 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Civista Bancshares by 43.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 102,387 shares of the bank’s stock worth $2,288,000 after purchasing an additional 31,023 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Civista Bancshares by 459.9% during the 3rd quarter. Wells Fargo & Company MN now owns 40,162 shares of the bank’s stock worth $896,000 after purchasing an additional 32,989 shares during the last quarter. 45.16% of the stock is owned by hedge funds and other institutional investors.
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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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