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Civista Bancshares

Nasdaq:CIVB
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CIVB
Nasdaq
$336M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Civista Bancshares, Inc. operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The last earnings update was 65 days ago. More info.


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CIVB Share Price and Events
7 Day Returns
-2.8%
NasdaqCM:CIVB
0.3%
US Banks
0.6%
US Market
1 Year Returns
-12.6%
NasdaqCM:CIVB
-2.4%
US Banks
4.7%
US Market
CIVB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Civista Bancshares (CIVB) -2.8% -0.8% -0.6% -12.6% 54.7% 143.2%
US Banks 0.3% 4.1% 1.7% -2.4% 47.8% 48.1%
US Market 0.6% 4.2% 2.7% 4.7% 38% 43.5%
1 Year Return vs Industry and Market
  • CIVB underperformed the Banks industry which returned -2.4% over the past year.
  • CIVB underperformed the Market in United States of America which returned 4.7% over the past year.
Price Volatility
CIVB
Industry
5yr Volatility vs Market

CIVB Value

 Is Civista Bancshares undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Civista Bancshares to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Civista Bancshares.

NasdaqCM:CIVB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= $21.32 * 10.6%
$2.25
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $21.32
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:CIVB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.597 (1 + (1- 21%) (53.72%))
0.899
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.899 * 5.96%)
8.09%

Discounted Cash Flow Calculation for NasdaqCM:CIVB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Civista Bancshares is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:CIVB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.6% – 8.09%) * $21.32)
$0.53
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.53 / (8.09% - 2.73%)
$9.89
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $21.32 + $9.89
$31.21
NasdaqCM:CIVB Discount to Share Price
Calculation Result
Value per share (USD) From above. $31.21
Current discount Discount to share price of $21.52
= -1 x ($21.52 - $31.21) / $31.21
31%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Civista Bancshares is available for.
Intrinsic value
31%
Share price is $21.52 vs Future cash flow value of $31.21
Current Discount Checks
For Civista Bancshares to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Civista Bancshares's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Civista Bancshares's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Civista Bancshares's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Civista Bancshares's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:CIVB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.20
NasdaqCM:CIVB Share Price ** NasdaqCM (2019-07-12) in USD $21.52
United States of America Banks Industry PE Ratio Median Figure of 592 Publicly-Listed Banks Companies 12.88x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 18.01x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Civista Bancshares.

NasdaqCM:CIVB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:CIVB Share Price ÷ EPS (both in USD)

= 21.52 ÷ 1.20

17.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Civista Bancshares is overvalued based on earnings compared to the US Banks industry average.
  • Civista Bancshares is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Civista Bancshares's expected growth come at a high price?
Raw Data
NasdaqCM:CIVB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
22.6%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.28x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NasdaqCM:CIVB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.92x ÷ 22.6%

0.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Civista Bancshares is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Civista Bancshares's assets?
Raw Data
NasdaqCM:CIVB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $19.37
NasdaqCM:CIVB Share Price * NasdaqCM (2019-07-12) in USD $21.52
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.21x
United States of America Market PB Ratio Median Figure of 5,239 Publicly-Listed Companies 1.81x
NasdaqCM:CIVB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:CIVB Share Price ÷ Book Value per Share (both in USD)

= 21.52 ÷ 19.37

1.11x

* Primary Listing of Civista Bancshares.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Civista Bancshares is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Civista Bancshares's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Civista Bancshares has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CIVB Future Performance

 How is Civista Bancshares expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Civista Bancshares expected to grow at an attractive rate?
  • Civista Bancshares's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Civista Bancshares's earnings growth is expected to exceed the United States of America market average.
  • Civista Bancshares's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:CIVB Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:CIVB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 22.6%
NasdaqCM:CIVB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 9.3%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 2.7%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:CIVB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:CIVB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 113 35 3
2019-12-31 108 33 3
NasdaqCM:CIVB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 91 26 16
2018-12-31 83 20 13
2018-09-30 76 28 9
2018-06-30 75 18 16
2018-03-31 73 18 17
2017-12-31 71 21 15
2017-09-30 68 18 14
2017-06-30 67 18 14
2017-03-31 68 9 16
2016-12-31 68 18 16
2016-09-30 67 12 15
2016-06-30 66 10 15

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Civista Bancshares's earnings are expected to grow significantly at over 20% yearly.
  • Civista Bancshares's revenue is expected to grow by 9.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:CIVB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Civista Bancshares Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:CIVB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.10 2.14 2.02 5.00
2019-12-31 2.00 2.03 1.98 5.00
NasdaqCM:CIVB Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.20
2018-12-31 1.10
2018-09-30 0.89
2018-06-30 1.60
2018-03-31 1.67
2017-12-31 1.48
2017-09-30 1.51
2017-06-30 1.60
2017-03-31 1.89
2016-12-31 1.96
2016-09-30 1.93
2016-06-30 1.88

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Civista Bancshares will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Civista Bancshares's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Civista Bancshares has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CIVB Past Performance

  How has Civista Bancshares performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Civista Bancshares's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Civista Bancshares's year on year earnings growth rate has been positive over the past 5 years.
  • Civista Bancshares's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Civista Bancshares's 1-year earnings growth is negative, it can't be compared to the US Banks industry average.
Earnings and Revenue History
Civista Bancshares's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Civista Bancshares Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:CIVB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 91.07 16.00 45.89
2018-12-31 83.46 13.18 42.85
2018-09-30 76.46 9.45 40.29
2018-06-30 74.88 16.43 42.79
2018-03-31 73.19 17.00 39.13
2017-12-31 70.84 14.63 38.46
2017-09-30 68.34 14.24 36.48
2017-06-30 67.38 14.20 35.58
2017-03-31 68.23 15.70 34.70
2016-12-31 67.69 15.72 34.03
2016-09-30 67.30 15.24 33.95
2016-06-30 66.20 14.80 33.51
2016-03-31 63.05 12.74 33.24
2015-12-31 60.47 11.17 32.87
2015-09-30 58.77 10.23 32.44
2015-06-30 57.39 9.26 32.05
2015-03-31 55.12 8.37 31.22
2014-12-31 54.24 7.66 30.99
2014-09-30 53.86 6.54 32.55
2014-06-30 52.86 5.92 31.97
2014-03-31 52.27 5.45 32.32
2013-12-31 50.94 5.02 32.30
2013-09-30 49.57 5.94 27.88
2013-06-30 47.91 5.74 27.80
2013-03-31 47.07 5.01 27.67
2012-12-31 45.38 4.39 26.96
2012-09-30 44.40 3.90 27.11

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Civista Bancshares has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Civista Bancshares used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Civista Bancshares improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Civista Bancshares's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Civista Bancshares has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CIVB Health

 How is Civista Bancshares's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Civista Bancshares's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Civista Bancshares Company Filings, last reported 3 months ago.

NasdaqCM:CIVB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 312.06 178.50 76.78
2018-12-31 298.90 245.23 33.89
2018-09-30 289.39 193.04 61.47
2018-06-30 189.85 199.86 32.87
2018-03-31 188.04 106.88 63.57
2017-12-31 184.46 123.08 36.41
2017-09-30 181.98 101.33 28.17
2017-06-30 178.84 105.46 29.04
2017-03-31 174.74 68.10 125.82
2016-12-31 137.62 106.85 33.81
2016-09-30 138.31 86.14 30.46
2016-06-30 136.20 94.45 33.41
2016-03-31 130.54 71.20 182.52
2015-12-31 125.17 125.67 33.11
2015-09-30 123.34 122.51 30.64
2015-06-30 120.02 102.19 29.17
2015-03-31 118.93 68.42 121.32
2014-12-31 115.91 116.24 26.60
2014-09-30 115.88 75.76 19.21
2014-06-30 113.91 84.81 45.69
2014-03-31 108.61 85.09 108.64
2013-12-31 128.38 87.21 31.23
2013-09-30 102.92 87.97 48.34
2013-06-30 102.16 89.09 60.26
2013-03-31 105.05 89.76 89.09
2012-12-31 103.98 92.91 44.91
2012-09-30 104.90 90.22 37.62
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Civista Bancshares has an acceptable proportion of non-loan assets held.
  • Civista Bancshares's liabilities are made up of primarily low risk sources of funding.
  • Loans at Civista Bancshares are broadly funded by customer deposits.
  • Civista Bancshares's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Civista Bancshares has a sufficient allowance for bad loans.
  • Civista Bancshares has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Civista Bancshares's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Civista Bancshares has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CIVB Dividends

 What is Civista Bancshares's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.04%
Current annual income from Civista Bancshares dividends. Estimated to be 2.11% next year.
If you bought $2,000 of Civista Bancshares shares you are expected to receive $41 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Civista Bancshares's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
  • Civista Bancshares's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:CIVB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 479 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2018 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:CIVB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.49 3.00
2019-12-31 0.42 3.00
NasdaqCM:CIVB Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-07-12 0.440 2.045
2019-04-12 0.440 1.998
2019-01-11 0.360 1.773
2018-10-12 0.360 1.796
2018-07-13 0.360 1.484
2018-04-13 0.280 1.164
2018-01-12 0.280 1.240
2017-10-06 0.280 1.260
2017-07-07 0.240 1.160
2017-04-07 0.240 1.146
2017-01-13 0.240 1.099
2016-07-08 0.240 1.558
2016-04-11 0.200 1.694
2016-01-08 0.200 1.856
2015-10-09 0.200 1.860
2015-07-10 0.200 1.959
2015-04-10 0.200 1.841
2015-01-09 0.200 1.875
2014-10-03 0.200 1.955
2014-07-03 0.200 2.167
2014-04-04 0.200 2.251
2014-01-03 0.160 1.989
2013-10-04 0.160 2.454
2013-06-19 0.160 2.303
2013-04-05 0.160 2.199
2013-01-04 0.120 1.887
2012-10-05 0.120 2.161
2012-07-06 0.120 2.165
2012-04-09 0.120 1.930
2012-01-09 0.120 2.411
2011-10-11 0.120 3.107
2011-08-09 0.000 0.000
2011-05-10 0.000 0.000
2011-03-16 0.000 0.000
2011-01-18 0.000 0.000
2010-11-09 0.000 0.000
2010-08-09 0.000 0.000
2010-05-10 0.000 0.000
2010-03-16 0.250 4.992
2009-07-15 0.040 0.818
2009-03-16 0.910 15.022

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Civista Bancshares's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Civista Bancshares's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Civista Bancshares afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Civista Bancshares has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CIVB Management

 What is the CEO of Civista Bancshares's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dennis Shaffer
COMPENSATION $537,462
AGE 56
TENURE AS CEO 1.5 years
CEO Bio

Mr. Dennis G. Shaffer has been President and Chief Executive Officer of Civista Bank since July 31, 2017. Mr. Shaffer serves as President and Chief Executive Officer at Civista Bancshares, Inc since December 31, 2017 and January 1, 2018 respectively. Mr. Shaffer served as an Executive Vice President of Civista Bancshares, Inc. since April 15, 2014. Mr. Shaffer served as President of Civista Bank since April 15, 2014 until July 31, 2017. Mr. Shaffer served as the Chief Lending Officer and Executive Vice President of The Citizens Banking Company from 2013 to April 15, 2014. Mr. Shaffer served as Senior Vice President of Commercial Lending at First Citizens Banc Corp. from 2012 to April 15, 2014. He served as an Executive Vice President of Commercial Lending of The Citizens Banking Company from December 2012 to 2013. He served as Senior Vice President of The Citizens Banking Company from 2010 to 2012 and its Vice President from 2009 to 2010. He served as Vice President of Huntington National Bank, Columbus, Ohio from 2007 to 2009. He served as Senior Vice President and Columbus District President from 1998 to 2006 of Sky Bank, Salineville, Ohio; Senior Vice President from 1996 to 1998, Vice President from 1992 to 1996 and Assistant Vice President from 1990 to 1992 of Ohio Bank, Columbus, Ohio. He has been a Director of Civista Bancshares, Inc. since August 9, 2017. He served as a Director of Civista Bank since April 2014. Mr. Shaffer is a graduate of The Ohio State University, the Graduate School of Banking in Madison, Wisconsin and the Ohio School of Banking. He has also completed a number of industry-related educational programs.

CEO Compensation
  • Dennis's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dennis's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Civista Bancshares management team in years:

3.3
Average Tenure
55
Average Age
  • The tenure for the Civista Bancshares management team is about average.
Management Team

Jim Miller

TITLE
Chairman of the Board
COMPENSATION
$122K
AGE
67

Dennis Shaffer

TITLE
President
COMPENSATION
$537K
AGE
56
TENURE
1.5 yrs

Rich Dutton

TITLE
Senior Vice President
COMPENSATION
$421K
AGE
56
TENURE
13.5 yrs

Chuck Parcher

TITLE
Senior Vice President
COMPENSATION
$321K
AGE
54
TENURE
3.3 yrs

Todd Michel

TITLE
Senior VP & Controller
COMPENSATION
$226K
AGE
54
TENURE
21.5 yrs

Lance Morrison

TITLE
Senior VP
AGE
52
TENURE
0.6 yrs

John Betts

TITLE
Senior Vice President
AGE
48
TENURE
6.5 yrs

Donna Waltz-Jaskolski

TITLE
Senior Vice President
AGE
53
TENURE
2.5 yrs

Mike McLaughlin

TITLE
Senior Vice President
AGE
60
TENURE
1.5 yrs

Harry Singer

TITLE
Director
AGE
64
TENURE
5.3 yrs
Board of Directors Tenure

Average tenure and age of the Civista Bancshares board of directors in years:

3.4
Average Tenure
65.5
Average Age
  • The tenure for the Civista Bancshares board of directors is about average.
Board of Directors

Jim Miller

TITLE
Chairman of the Board
COMPENSATION
$122K
AGE
67
TENURE
5.3 yrs

Dennis Shaffer

TITLE
President
COMPENSATION
$537K
AGE
56
TENURE
2.3 yrs

Harry Singer

TITLE
Director
AGE
64
TENURE
0.2 yrs

Allen Nickles

TITLE
Director
COMPENSATION
$28K
AGE
69
TENURE
16.5 yrs

Dennis Murray

TITLE
Lead Director
COMPENSATION
$26K
AGE
56
TENURE
4.5 yrs

Daniel White

TITLE
Director
COMPENSATION
$22K
AGE
69
TENURE
17.5 yrs

Thomas Depler

TITLE
Director
COMPENSATION
$27K
AGE
69
TENURE
12.3 yrs

Pat Oliver

TITLE
Director
COMPENSATION
$24K
AGE
63
TENURE
1.8 yrs

Bill Ritzmann

TITLE
Independent Director
COMPENSATION
$11K
AGE
71
TENURE
0.8 yrs

Julie Mattlin

TITLE
Independent Director
COMPENSATION
$10K
AGE
54
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Civista Bancshares individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
30. May 19 Buy Gerald Wurm Individual 30. May 19 30. May 19 10,000 $21.80 $217,740
07. May 19 Buy Allen Nickles Individual 07. May 19 07. May 19 25 $22.75 $569
04. Mar 19 Buy Sandusco Inc. Company 17. Dec 18 17. Dec 18 1,100 $17.99 $19,788
22. Feb 19 Sell W. McLaughlin Individual 20. Feb 19 20. Feb 19 -11,000 $21.37 $-232,186
07. Nov 18 Buy Lance Morrison Individual 06. Nov 18 06. Nov 18 1,000 $21.50 $21,500
17. Dec 18 Buy Charles Parcher Individual 17. Dec 18 17. Dec 18 500 $17.67 $8,835
17. Dec 18 Buy Allen Nickles Individual 17. Dec 18 17. Dec 18 484 $17.67 $8,552
07. Dec 18 Buy Allen Nickles Individual 07. Dec 18 07. Dec 18 500 $19.70 $9,850
30. Nov 18 Buy Sandusco Inc. Company 30. Nov 18 30. Nov 18 1,000 $21.20 $21,201
21. Nov 18 Buy Harry Singer Individual 20. Nov 18 20. Nov 18 25 $21.07 $527
20. Sep 18 Buy Harry Singer Individual 20. Sep 18 20. Sep 18 30 $23.74 $712
19. Sep 18 Buy Charles Parcher Individual 18. Sep 18 18. Sep 18 3 $22.71 $68
19. Sep 18 Buy Charles Parcher Individual 18. Sep 18 18. Sep 18 497 $22.93 $11,396
31. Aug 18 Buy Harry Singer Individual 31. Aug 18 31. Aug 18 200 $23.92 $4,784
16. Aug 18 Buy Allen Nickles Individual 16. Aug 18 16. Aug 18 35 $24.73 $866
X
Management checks
We assess Civista Bancshares's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Civista Bancshares has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CIVB News

Simply Wall St News

When Should You Buy Civista Bancshares, Inc. (NASDAQ:CIVB)?

Let’s take a look at Civista Bancshares’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … Great news for investors – Civista Bancshares is still trading at a fairly cheap price. … What’s more interesting is that, Civista Bancshares’s share price is theoretically quite stable, which could mean two things: firstly, it may take the share price a while to move to its intrinsic value, and secondly, there may be less chances to buy low in the future once it reaches that value.

Simply Wall St -

Does Civista Bancshares, Inc. (NASDAQ:CIVB) Have A High Beta?

(NASDAQ:CIVB), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … View our latest analysis for Civista Bancshares What we can learn from CIVB's beta value Given that it has a beta of 0.80, we can surmise that the Civista Bancshares share price has not been strongly impacted by broader market volatility (over the last 5 years).

Simply Wall St -

Despite Its High P/E Ratio, Is Civista Bancshares, Inc. (NASDAQ:CIVB) Still Undervalued?

We'll look at Civista Bancshares, Inc.'s (NASDAQ:CIVB) P/E ratio and reflect on what it tells us about the company's share price. … Civista Bancshares has a P/E ratio of 20.13, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Understated Factors To Consider Before Investing In Civista Bancshares, Inc. (NASDAQ:CIVB)

As a small-cap finance stock with a market capitalisation of US$341m, the risk and profitability of Civista Bancshares, Inc. … Since banks make money by reinvesting its customers’ deposits in the form of loans, strong economic growth will drive the level of savings deposits and demand for loans, directly impacting the cash flows of those banks. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like Civista Bancshares to vulnerabilities.

Simply Wall St -

How Much Of Civista Bancshares, Inc. (NASDAQ:CIVB) Do Institutions Own?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Civista Bancshares is not a large company by global standards. … institutional investors have bought into the company.

Simply Wall St -

Three Key Risks For Civista Bancshares, Inc. (NASDAQ:CIVB) You Should Know

Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Civista Bancshares’s bottom line. … Today we will analyse Civista Bancshares’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank. … View our latest analysis for Civista Bancshares

Simply Wall St -

Should You Buy Civista Bancshares, Inc. (NASDAQ:CIVB) For Its Dividend?

Historically, Civista Bancshares, Inc. … Let's take a look at Civista Bancshares in more detail. … View our latest analysis for Civista Bancshares

Simply Wall St -

Can You Imagine How Chuffed Civista Bancshares's Shareholders Feel About Its 143% Share Price Gain?

(NASDAQ:CIVB) which saw its share price drive 143% higher over five years. … During five years of share price growth, Civista Bancshares achieved compound earnings per share (EPS) growth of 11% per year. … This EPS growth is lower than the 19% average annual increase in the share price.

Simply Wall St -

When Should You Buy Civista Bancshares, Inc. (NASDAQ:CIVB)?

Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … So, could the stock still be trading at a low price relative to its actual value. … Today I will analyse the most recent data on Civista Bancshares’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

What Does Civista Bancshares, Inc.'s (NASDAQ:CIVB) P/E Ratio Tell You?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … Civista Bancshares has a P/E ratio of 21.78, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

CIVB Company Info

Description

Civista Bancshares, Inc. operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans. The company also provides trust and third party insurance services. It operates branch banking offices in Sandusky, Norwalk, Berlin Heights, Huron, Port Clinton, Castalia, New Washington, Shelby, Willard, Greenwich, Plymouth, Shiloh, Akron, Dublin, Plain City, Russells Point, Urbana, West Liberty, Quincy, and Dayton communities of Ohio; and Lawrenceburg, Aurora, West Harrison, Milan, Osgood, and Versailles, as well as loan production offices in Mayfield Heights, and Westlake, Ohio; and Fort Mitchell, 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.

Details
Name: Civista Bancshares, Inc.
CIVB
Exchange: NasdaqCM
Founded: 1884
$336,230,911
15,624,113
Website: http://www.civb.com
Address: Civista Bancshares, Inc.
100 East Water Street,
PO Box 5016,
Sandusky,
Ohio, 44870,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM CIVB Common Stock Nasdaq Capital Market US USD 15. Apr 1993
NasdaqCM CIVB.P 6.50% PFD SER B Nasdaq Capital Market US USD 23. Dec 2013
Number of employees
Current staff
Staff numbers
432
Civista Bancshares employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/14 23:36
End of day share price update: 2019/07/12 00:00
Last estimates confirmation: 2019/07/07
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.