$17.71 Million in Sales Expected for Civista Bancshares, Inc. (CIVB) This Quarter

Equities research analysts expect that Civista Bancshares, Inc. (NASDAQ:CIVB) will post sales of $17.71 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Civista Bancshares’ earnings. The highest sales estimate is $17.80 million and the lowest is $17.62 million. Civista Bancshares posted sales of $15.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.8%. The firm is scheduled to announce its next earnings report on Friday, January 26th.

According to Zacks, analysts expect that Civista Bancshares will report full-year sales of $17.71 million for the current financial year, with estimates ranging from $70.27 million to $70.50 million. For the next financial year, analysts forecast that the firm will report sales of $76.34 million per share, with estimates ranging from $76.10 million to $76.58 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Civista Bancshares.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Friday, October 27th. The bank reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). The company had revenue of $17.15 million for the quarter, compared to analysts’ expectations of $17.60 million. Civista Bancshares had a net margin of 21.56% and a return on equity of 10.32%.

CIVB has been the subject of a number of recent research reports. ValuEngine lowered Civista Bancshares from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 30th. Sandler O’Neill reiterated a “buy” rating and set a $25.00 price objective (up previously from $23.50) on shares of Civista Bancshares in a research note on Friday, October 6th. Keefe, Bruyette & Woods restated a “buy” rating and set a $24.00 target price on shares of Civista Bancshares in a research report on Wednesday, October 4th. Finally, Zacks Investment Research upgraded Civista Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, one has issued 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 $24.38.

A number of hedge funds have recently bought and sold shares of CIVB. Cornerstone Capital Management Holdings LLC. acquired a new stake in Civista Bancshares in the 2nd quarter worth about $124,000. JPMorgan Chase & Co. lifted its stake in Civista Bancshares by 272.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,997 shares of the bank’s stock worth $209,000 after purchasing an additional 7,315 shares in the last quarter. Keybank National Association OH purchased a new position in Civista Bancshares in the 3rd quarter worth approximately $213,000. Rhumbline Advisers purchased a new position in Civista Bancshares in the 2nd quarter worth approximately $216,000. Finally, New York State Common Retirement Fund purchased a new position in Civista Bancshares in the 2nd quarter worth approximately $221,000. Institutional investors own 43.92% of the company’s stock.

Civista Bancshares (CIVB) traded up $0.05 during midday trading on Friday, hitting $22.17. The company’s stock had a trading volume of 43,759 shares, compared to its average volume of 42,024. The stock has a market cap of $227.83, a price-to-earnings ratio of 16.89, a P/E/G ratio of 2.19 and a beta of 0.55. Civista Bancshares has a twelve month low of $17.56 and a twelve month high of $23.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95.

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Civista Bancshares Company Profile

Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.

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

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