Civista Bancshares (CIVB) Expected to Announce Quarterly Sales of $19.51 Million

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.

How to Become a New Pot Stock Millionaire

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.

COPYRIGHT VIOLATION NOTICE: This report was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/04/14/civista-bancshares-civb-expected-to-announce-quarterly-sales-of-19-51-million.html.

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.

Get a free copy of the Zacks research report on Civista Bancshares (CIVB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Civista Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Civista Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply