Civista Bancshares Third Quarter 2024 Earnings: Beats Expectations

Civista Bancshares (NASDAQ:CIVB) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$37.9m (down 2.5% from 3Q 2023).
• Net income: US$8.19m (down 18% from 3Q 2023).
• Profit margin: 22% (down from 26% in 3Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$0.53 (down from US$0.66 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Civista Bancshares Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 21%.

Looking ahead, revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 3.4% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Civista Bancshares' balance sheet.

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