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Civista Bancshares Inc (CIVB)
NASDAQ:CIVB
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Civista Bancshares
(NASDAQ:CIVB)
75Outperform
Civista Bancshares (CIVB) vs. S&P 500 (SPY)
Market Cap
$360.20M
Dividend Yield2.84%
Average Volume (3M)39.81K
Price to Earnings (P/E)10.2
Beta (1Y)0.77
Revenue Growth9.51%
EPS Growth-2.12%
CountryUS
Employees520
SectorFinancial
Sector Strength85
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.66
Shares Outstanding15,519,072
10 Day Avg. Volume37,688
30 Day Avg. Volume39,814
Financial Highlights & Ratios
PEG Ratio0.81
Price to Book (P/B)0.87
Price to Sales (P/S)0.00
P/FCF Ratio8.18
Enterprise Value/Market Cap2.28
Enterprise Value/Revenue0.94
Enterprise Value/Gross Profit3.76
Enterprise Value/Ebitda13.26
Forecast
1Y Price Target
$25.67Price Target Upside10.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
Civista Bancshares Business Overview & Revenue Model
Company DescriptionCivista Bancshares, Inc. operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit. The company also purchases securities; and provides trust and third-party insurance services. It operates approximately 42 locations in Northern, Central, Southwestern, and Northwestern Ohio, as well as Southeastern Indiana and Northern Kentucky. The company was formerly known as First Citizens Banc Corp and changed its name to Civista Bancshares, Inc. in May 2015. Civista Bancshares, Inc. was founded in 1884 and is headquartered in Sandusky, Ohio.
How the Company Makes MoneyCivista Bancshares generates revenue through various banking services and financial products. The primary revenue streams include interest income from loans and credit products extended to individuals and businesses. This includes residential and commercial mortgages, consumer loans, and lines of credit. Additionally, the bank earns non-interest income from fees and service charges related to deposit accounts, transaction processing, trust and investment management, and other financial services. Civista also benefits from investments in securities and partnerships that provide additional income streams, contributing to overall profitability. The company's financial performance is bolstered by strategic partnerships and a strong focus on community banking, which helps maintain a loyal customer base.
Civista Bancshares Financial Statement Overview
Summary
Civista Bancshares shows strong revenue growth and positive cash flows. The balance sheet is solid with a strong equity position, although rising liabilities and cash fluctuations require monitoring. Despite missing data, the company maintains profitability and effective cash management.Income Statement
Civista Bancshares has shown consistent revenue growth over the past few years, with total revenue increasing from $107.54 million in 2019 to $158.22 million in 2023. However, the revenue for 2024 is unavailable. Net profit margin has fluctuated slightly but remains healthy, suggesting good cost control. The absence of EBIT and EBITDA figures for 2023 and 2024 makes it challenging to evaluate operational efficiency fully. Overall, the income statement reflects a stable and growing revenue base, albeit with some missing data points.72
Positive
Balance Sheet
The company's balance sheet reveals a significant increase in total assets from $2.31 billion in 2019 to $3.86 billion in 2023, driven by substantial cash and cash equivalents. The equity ratio remains strong, indicating a solid capital base, though the increase in total liabilities up to 2023 suggests rising obligations. The debt-to-equity ratio was reasonable in previous years but saw a significant improvement in 2024 with a reduction in total debt. However, the substantial fluctuations in cash and liabilities warrant monitoring for potential liquidity risks.68
Positive
Cash Flow
Civista Bancshares demonstrates robust operating cash flow, with a noticeable increase from $32.21 million in 2020 to $62.70 million in 2023. The free cash flow has also remained positive, reflecting efficient capital expenditure management. The free cash flow growth rate indicates positive trends, although there are some variations in investing cash flow, primarily due to significant investments. Overall, the cash flow statement is strong, showing the company's ability to generate and manage cash effectively.74
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 151.91M | 158.22M | 137.03M | 124.56M | 116.04M | Gross Profit |
| 151.91M | 160.24M | 137.03M | 124.56M | 116.04M | EBIT |
| 36.57M | 0.00 | 62.54M | 47.56M | 37.13M | EBITDA |
| 0.00 | 0.00 | 52.79M | 51.25M | 40.30M | Net Income Common Stockholders |
| 31.68M | 42.96M | 39.43M | 40.55M | 32.19M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 329.94M | 8.33M | 660.24M | 825.84M | 502.99M | Total Assets |
| 4.10B | 3.86B | 3.54B | 3.01B | 2.76B | Total Debt |
| 450.88M | 454.19M | 516.59M | 177.81M | 154.43M | Net Debt |
| 386.28M | 392.56M | 471.75M | -88.16M | 14.90M | Total Liabilities |
| 3.71B | 3.49B | 3.20B | 177.81M | 154.43M | Stockholders Equity |
| 388.50M | 372.00M | 334.84M | 355.21M | 350.11M |
| Cash Flow | Free Cash Flow | |||
| 44.06M | 59.27M | 18.68M | 38.83M | 30.23M | Operating Cash Flow |
| 48.25M | 62.70M | 25.18M | 40.76M | 32.21M | Investing Cash Flow |
| -258.80M | -311.78M | -410.36M | -130.50M | -340.02M | Financing Cash Flow |
| 213.30M | 266.13M | 164.30M | 216.93M | 398.80M |
Civista Bancshares Technical Analysis
Positive
23.21
Price Trends
20.43
Positive
20.53
Positive
19.57
Positive
Market Momentum
0.90
Negative
63.33
Neutral
82.01
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CIVB, the sentiment is Positive. The current price of 23.21 is above the 20-day moving average (MA) of 22.26, above the 50-day MA of 20.43, and above the 200-day MA of 19.57, indicating a bullish trend. The MACD of 0.90 indicates Negative momentum. The RSI at 63.33 is Neutral, neither overbought nor oversold. The STOCH value of 82.01 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CIVB.
Civista Bancshares Risk Analysis
Civista Bancshares disclosed 24 risk factors in its most recent earnings report. Civista Bancshares reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Civista Bancshares Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $310.36M | 9.27 | 11.82% | 2.68% | 7.52% | -4.22% | |
76 Outperform | $329.55M | 6.71 | 15.25% | 2.55% | 11.43% | 10.33% | |
75 Outperform | $360.20M | 10.24 | 9.07% | 2.84% | 9.51% | -2.12% | |
73 Outperform | $299.51M | 11.09 | 9.83% | 5.79% | 1.16% | 15.00% | |
71 Outperform | $295.54M | 12.79 | 7.28% | 1.86% | 2.11% | -5.15% | |
70 Outperform | $305.58M | 15.79 | 6.04% | ― | 22.20% | 22.55% | |
64 Neutral | $12.82B | 9.83 | 7.68% | 17000.34% | 12.38% | -5.56% |
* Financial Sector Average
Performance Comparison
CIVB
Civista Bancshares
23.21
9.16
65.20%
CZNC
Citizens & Northern
19.33
2.09
12.12%
NECB
Northeast Community Bancorp
23.50
6.98
42.25%
FSBW
FS Bancorp
40.32
8.67
27.39%
BCML
BayCom
26.85
6.99
35.20%
PBFS
Pioneer Bancorp
11.82
2.51
26.96%
Civista Bancshares Earnings Call Summary
Earnings Call Date:Apr 24, 2025
(Q1-2025)
| % Change Since: 12.56%|
Next Earnings Date:Jul 25, 2025
Earnings Call Sentiment Positive
The earnings call presented a strong start to 2025 with significant growth in net income, improved efficiency ratios, and successful deposit growth. However, challenges in noninterest income, loan growth, and economic uncertainties present potential headwinds. The positive aspects slightly outweigh the negative ones, indicating a cautiously optimistic outlook.Q1-2025 Updates
Positive Updates
Strong Net Income Growth
Net income for the first quarter was $10.2 million, or $0.66 per diluted share, representing a $3.8 million or 60% increase over February and a $275,000 increase over the linked quarter.
Deposit Growth and Funding Cost Reduction
Core deposit funding grew organically by over $67 million during the quarter, reducing reliance on brokered funding. The overall funding cost decreased by 11 basis points to 2.31%.
Increased Net Interest Income and Margin Expansion
Net interest income for the quarter was $32.8 million, an increase of $1.4 million or 4.5% compared to the linked quarter. The margin grew by 15 basis points during the quarter to 3.51%.
Efficiency Ratio Improvement
The efficiency ratio improved to 64.9% for the quarter compared to 68.3% for the linked quarter and 73.8% for the prior year's first quarter.
Capital Position and Dividend Increase
The tier one leverage ratio was 8.66%, and a quarterly dividend of $0.17 per share was announced, representing an annualized yield of 3.48%.
Negative Updates
Noninterest Income Decline
Noninterest income declined $1.2 million or 12.8% in comparison to the linked quarter and $396,000 or 4.8% in comparison to the first quarter of the prior year.
Challenges in Loan and Lease Growth
Loan and lease portfolio grew at an annualized rate of only 2.8% during the first quarter, with some categories experiencing small declines.
Unrealized Losses in Securities Portfolio
At March 31, all securities were classified as available for sale and had $60 million of unrealized losses, a decrease of $2.5 million since December 2024.
Concerns Over Economic Uncertainty Impacting Loan Demand
There is a general concern over macroeconomic uncertainties which may impact loan demand and capital expenditure spending in the near term.
Company Guidance
In the first quarter of 2025, Civista Bancshares, Inc. reported a net income of $10.2 million or $0.66 per diluted share, marking a $3.8 million increase from February and a $275,000 rise from the previous quarter. The bank achieved a 47% increase in pre-provision net revenue over the first quarter of 2024. Core deposit funding grew organically by over $67 million, with net interest income rising to $32.8 million. The loan and lease portfolio expanded at an annualized rate of 2.8%, and the net interest margin improved by 15 basis points to 3.51%. Civista's return on assets (ROA) was 1%, and the return on equity (ROE) stood at 10.39%. Total loans and leases grew by $22.8 million, while noninterest expenses decreased by $1.2 million from the linked quarter. The bank's efficiency ratio improved to 64.9% from 68.3% in the prior quarter. Civista's allowance for credit losses was 1.30% of total loans, and its loan-to-deposit ratio was 95.8% at quarter-end. The tangible common equity ratio increased to 6.59%, and the company announced a dividend of $0.17 per share, yielding 3.48% annually. Looking forward, Civista anticipates low to mid-single-digit loan growth for the rest of 2025, despite macroeconomic uncertainties.Civista Bancshares Corporate Events
Shareholder MeetingsDividendsFinancial Disclosures
Civista Bancshares Holds Annual Shareholder Meeting
Positive
Apr 15, 2025
On April 15, 2025, Civista Bancshares, Inc. held its Annual Meeting of shareholders, where several proposals were presented, including the election of directors and compensation of executive officers. The company reported a strong financial performance for 2024, with a net income of $31.7 million and a 7.7% loan growth. Despite challenges such as regulatory reform and margin contraction, Civista Bancshares increased its shareholder dividend and achieved a total shareholder return of 17.6% in 2024, positioning itself for continued growth and stability in the financial sector.
Spark’s Take on CIVB Stock
According to Spark, TipRanks’ AI Analyst, CIVB is a Outperform.
Civista Bancshares’ overall score is driven by solid financial performance, attractive valuation, and positive corporate events. While technical indicators show some caution, the company’s strategic initiatives and leadership changes support a stable outlook. Key strengths include consistent revenue growth, robust cash flow management, and a strong dividend yield, while rising liabilities and increased nonperforming loans pose potential risks.
To see Spark’s full report on CIVB stock, click here.
Business Operations and StrategyFinancial Disclosures
Civista Bancshares Highlights Strategic Initiatives in Roadshow
Positive
Mar 17, 2025
On March 17, 2025, Civista Bancshares’ senior management will present to investors during a non-deal roadshow, highlighting the company’s strategic initiatives and financial performance. Civista has shown significant growth in deposits and loans since 2019, with a strong capital position and diversified revenue streams. The company emphasizes its community banking focus, robust credit quality, and strategic priorities for 2024-2027, including digital growth and talent investment. Recent initiatives have improved revenue and reduced expenses, positioning Civista as a strong player in its market.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.