The brokerages expect Civista Bancshares, Inc. (NASDAQ:CIVB) to report earnings of $0.60 per share for the current fiscal quarter, according to Zacks. Two analysts provided earnings estimates for Cavista Bancshares. The lowest EPS estimate is $0.58 and the highest is $0.61. Civista Bancshares reported earnings of $0.64 per share in the same quarter last year, which would indicate a negative growth rate of 6.3% year-over-year. The company is expected to release its next quarterly results on Friday, February 4.
On average, analysts expect Civista Bancshares to report annual earnings of $2.58 per share for the current fiscal year, with EPS estimates ranging from $2.51 to $2.70. For next year, analysts expect the company to report earnings of $2.21 per share, with EPS estimates ranging from $2.12 to $2.29. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts who cover Civista Banc shares.
Civista Bancshares (NASDAQ:CIVB) last released its quarterly results on Tuesday, October 26. The bank reported earnings per share (EPS) of $0.64 for the quarter, beating Thomson Reuters consensus estimate of $0.62 by $0.02. The company posted revenue of $30.86 million for the quarter, compared to $30.90 million expected by analysts. Civista Bancshares had a net margin of 29.43% and a return on equity of 11.35%. In the same quarter of the previous year, the company had earned earnings per share of $0.48.
Several analysts have recently weighed in on CIVB shares. Zacks Investment Research cut shares of Civista Bancshares from a “hold” rating to a “sell” rating in a Monday, Jan. 3, report. DA Davidson reaffirmed a “buy” rating on Civista Bancshares shares in a report on Wednesday.
NASDAQ:CIVB rose $0.23 during Friday’s midday session, hitting $25.03. The stock recorded trading volume of 34,568 shares, compared to an average trading volume of 42,817 shares. The stock has a 50-day simple moving average of $24.61 and a 200-day simple moving average of $23.73. The company has a market capitalization of $376.10 million, a PE ratio of 9.82 and a beta of 0.93. Civista Bancshares has a 12-month low of $16.46 and a 12-month high of $25.94. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt ratio of 0.30.
A number of institutional investors have recently changed their positions in the company. Bank of New York Mellon Corp increased its stake in Cavista Bancshares by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 84,947 shares of the bank valued at $1,973,000 after buying 2,460 additional shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Cavista Bancshares by 102.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,957 shares in the bank valued at $92,000 after buying an additional 2,003 shares in the last quarter. UBS Group AG increased its position in shares of Civista Bancshares by 55.8% during the third quarter. UBS Group AG now owns 7,991 shares in the bank worth $186,000 after acquiring 2,862 additional shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Civista Bancshares by 71.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,004 shares of the bank worth $93,000 after acquiring 1,663 additional shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Civista Bancshares by 145.0% during the third quarter. Millennium Management LLC now owns 47,205 shares of the bank worth $1,097,000 after acquiring 27,937 additional shares in the last quarter. Institutional investors hold 52.44% of the company’s shares.
About Civista Bancshares
Civista Bancshares, Inc is a financial holding company engaged in community banking business. It 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 primary deposit products are checking, savings and term certificate accounts, and its lending products are residential, commercial and installment mortgages.
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