Analysts forecast Civista Bancshares, Inc. (NASDAQ:CIVB) to post sales of $30.40 million for the current quarter, according to Zacks. Two analysts have issued estimates for Civista Bancshares earnings, with the lower estimate for sales at $30.30 million and the higher estimate at $30.50 million. Civista Bancshares posted sales of $31.20 million in the same quarter last year, suggesting a negative 2.6% year-on-year growth rate. The company is scheduled to report its next quarterly earnings results on Friday, February 4.
On average, analysts expect Civista Bancshares to report annual sales of $125.80 million for the current year, with estimates ranging from $125.30 million to $126.30 million. For the next fiscal year, analysts expect the company to post sales of $126.65 million, with estimates ranging from $125.80 million to $127.50 million. Zacks sales averages are a median average based on a survey of research firms that provide coverage for Civista Bancshares.
Civista Bancshares (NASDAQ:CIVB) last published its quarterly earnings results on Tuesday, October 26. The bank reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $30.86 million during the quarter, compared to analyst expectations of $30.90 million. Civista Bancshares had a return on capital of 11.35% and a net margin of 29.43%. During the same quarter of the previous year, the company recorded $0.48 EPS.
Several analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating on Civista Bancshares shares in a research note on Wednesday. Zacks Investment Research downgraded shares of Civista Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, January 3.
Several hedge funds have recently increased or reduced their holdings in the company. Hillsdale Investment Management Inc. increased its stake in Civista Bancshares by 26.3% in the third quarter. Hillsdale Investment Management Inc. now owns 2,400 shares of the bank valued at $56,000 after buying an additional 500 shares last quarter. WINTON GROUP Ltd increased its holdings in Civista Bancshares by 4.3% in the third quarter. WINTON GROUP Ltd now owns 16,347 shares of the bank valued at $380,000 after purchasing an additional 680 shares during the period. Royal Bank of Canada increased its holdings in Civista Bancshares by 7.6% in the third quarter. Royal Bank of Canada now owns 10,718 shares of the bank valued at $249,000 after purchasing an additional 754 shares during the period. O Shaughnessy Asset Management LLC increased its position in Civista Bancshares shares by 73.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,846 shares of the bank valued at $43,000 after buying an additional 783 shares last quarter. Finally, Citigroup Inc. increased its position in Civista Bancshares shares by 144.9% during the 3rd quarter. Citigroup Inc. now owns 1,812 shares of the bank valued at $42,000 after buying an additional 1,072 shares last quarter. Currently, 52.44% of the shares are owned by institutional investors.
NASDAQ: CIVB opened at $25.03 on Friday. Civista Bancshares has a 12-month minimum of $16.46 and a 12-month maximum of $25.94. The company has a quick ratio of 0.90, a current ratio of 0.90, and a debt-to-equity ratio of 0.30. The company has a market capitalization of $376.20 million, a P/E ratio of 9.82, and a beta of 0.93. The stock’s 50-day simple moving average is $24.60 and its 200-day simple moving average is $23.74.
About Civista Bancshares
Civista Bancshares, Inc is a financial holding company engaged in the community banking business. 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 main deposit products are checking accounts, savings accounts and term certificates, and its credit products are residential, commercial and term mortgage loans.
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