Civista Bancshares, Inc. (NASDAQ:CIVB) Expected to Post Quarterly Sales of $30.40 Million
Analysts expect Civista Bancshares, Inc. (NASDAQ:CIVB) to post sales of $30.40 million for the current quarter, according to Zacks. Two analysts have released earnings estimates for Civista Bancshares, with the lowest sales estimate at $30.30 million and the highest estimate at $30.50 million. Civista Bancshares reported sales of $31.20 million in the same quarter last year, suggesting a negative 2.6% year-over-year growth rate. The company is expected to release its next quarterly results on Friday, February 4.
On average, analysts expect Civista Bancshares to record 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 to $127.50 million. Zacks sales averages are an average average based on a survey of research companies that provide coverage for Civista Banc shares.
Cavista Bancshares (NASDAQ:CIVB) last released its quarterly results on Tuesday, October 26. The bank reported EPS of $0.64 for the quarter, beating the consensus estimate of $0.62 by $0.02. The company posted revenue of $30.86 million in the quarter, compared to $30.90 million expected by analysts. Civista Bancshares had a return on equity of 11.35% and a net margin of 29.43%. In the same quarter a year earlier, the company posted EPS of $0.48.
Several analysts have 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 Monday, January 3, research report.
Several hedge funds have recently increased or reduced their stakes in the company. Hillsdale Investment Management Inc. increased its stake in Civista Bancshares by 26.3% in Q3. Hillsdale Investment Management Inc. now owns 2,400 shares of the bank valued at $56,000 after buying an additional 500 shares in the last quarter. WINTON GROUP Ltd increased its holdings in Civista Bancshares by 4.3% in the 3rd quarter. WINTON GROUP Ltd now owns 16,347 shares in the bank valued at $380,000 after purchasing an additional 680 shares during the period. Royal Bank of Canada increased its holdings in Cavista 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 783 additional shares last quarter. Finally, Citigroup Inc. increased its position in Cavista 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. 52.44% of the shares are currently held by institutional investors.
NASDAQ: CIVB opened at $25.03 on Friday. Civista Bancshares has a 12-month low of $16.46 and a 12-month high of $25.94. The company has a quick ratio of 0.90, a current ratio of 0.90 and a leverage 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 fifty-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 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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