NasdaqCM:CIVB

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Civista Bancshares, Inc. operates as the financial holding company for Civista Bank that provides community banking services. More Details


Snowflake Analysis

Flawless balance sheet, good value and pays a dividend.


Similar Companies

Share Price & News

How has Civista Bancshares's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CIVB is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: CIVB's weekly volatility (8%) has been stable over the past year.


Market Performance


7 Day Return

-3.0%

CIVB

-0.7%

US Banks

-0.5%

US Market


1 Year Return

-25.2%

CIVB

-21.9%

US Banks

18.3%

US Market

Return vs Industry: CIVB underperformed the US Banks industry which returned -21.7% over the past year.

Return vs Market: CIVB underperformed the US Market which returned 19.1% over the past year.


Shareholder returns

CIVBIndustryMarket
7 Day-3.0%-0.7%-0.5%
30 Day7.8%10.1%3.6%
90 Day19.7%12.4%5.6%
1 Year-23.1%-25.2%-19.1%-21.9%21.0%18.3%
3 Year-19.8%-24.6%-4.4%-12.4%45.2%35.6%
5 Year68.2%53.6%29.2%13.1%89.8%68.8%

Long-Term Price Volatility Vs. Market

How volatile is Civista Bancshares's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Civista Bancshares undervalued compared to its fair value and its price relative to the market?

8.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CIVB ($16.54) is trading below our estimate of fair value ($18.03)

Significantly Below Fair Value: CIVB is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CIVB is good value based on its PE Ratio (9x) compared to the US Banks industry average (11.2x).

PE vs Market: CIVB is good value based on its PE Ratio (9x) compared to the US market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: CIVB's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CIVB is good value based on its PB Ratio (0.8x) compared to the US Banks industry average (0.9x).


Next Steps

Future Growth

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

-5.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CIVB's earnings are forecast to decline over the next 3 years (-5.4% per year).

Earnings vs Market: CIVB's earnings are forecast to decline over the next 3 years (-5.4% per year).

High Growth Earnings: CIVB's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CIVB's revenue (0.9% per year) is forecast to grow slower than the US market (10.2% per year).

High Growth Revenue: CIVB's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CIVB's Return on Equity is forecast to be low in 3 years time (7.1%).


Next Steps

Past Performance

How has Civista Bancshares performed over the past 5 years?

21.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CIVB has high quality earnings.

Growing Profit Margin: CIVB's current net profit margins (28.3%) are lower than last year (31.2%).


Past Earnings Growth Analysis

Earnings Trend: CIVB's earnings have grown significantly by 21.5% per year over the past 5 years.

Accelerating Growth: CIVB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CIVB had negative earnings growth (-9.9%) over the past year, making it difficult to compare to the Banks industry average (-4.3%).


Return on Equity

High ROE: CIVB's Return on Equity (8.7%) is considered low.


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: CIVB's Assets to Equity ratio (8.2x) is low.

Allowance for Bad Loans: CIVB has a sufficient allowance for bad loans (422%).

Low Risk Liabilities: 84% of CIVB's liabilities are made up of primarily low risk sources of funding.

Loan Level: CIVB has an appropriate level of Loans to Assets ratio (72%).

Low Risk Deposits: CIVB's Loans to Deposits ratio (98%) is appropriate.

Level of Bad Loans: CIVB has an appropriate level of bad loans (0.3%).


Next Steps

Dividend

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

2.66%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CIVB's dividend (2.66%) is higher than the bottom 25% of dividend payers in the US market (1.52%).

High Dividend: CIVB's dividend (2.66%) is low compared to the top 25% of dividend payers in the US market (4.2%).


Stability and Growth of Payments

Stable Dividend: CIVB's dividend payments have been volatile in the past 10 years.

Growing Dividend: CIVB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (23.9%), CIVB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CIVB's dividends in 3 years are forecast to be well covered by earnings (27.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.6yrs

Average management tenure


CEO

Dennis Shaffer (57 yo)

2.83yrs

Tenure

US$660,145

Compensation

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 Decemb...


CEO Compensation Analysis

Compensation vs Market: Dennis's total compensation ($USD660.15K) is below average for companies of similar size in the US market ($USD1.16M).

Compensation vs Earnings: Dennis's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Dennis Shaffer
President2.83yrsUS$660.15k0.095%
$ 248.9k
Richard Dutton
SVP & COOno dataUS$455.58k0.12%
$ 310.5k
Paul Stark
Senior Vice President10.83yrsUS$380.82k0.064%
$ 168.3k
Charles Parcher
Senior Vice President4.58yrsUS$388.96k0.054%
$ 140.9k
Todd Michel
Senior VP & Controller22.83yrsUS$443.44k0.031%
$ 82.5k
Harry Singer
Independent Director1.5yrsUS$41.87k0.049%
$ 129.3k
Lance Morrison
Senior VP1.92yrsno data0.013%
$ 33.4k
John Betts
Senior Vice President7.83yrsno data0.044%
$ 115.8k
Donna Waltz-Jaskolski
Senior Vice President3.83yrsno data0.0080%
$ 21.1k
Russell Edwards
Senior Vice President of Retail Banking1.25yrsno datano data
Kathleen Bodi
Assistant Corporate Secretaryno datano datano data

4.6yrs

Average Tenure

55yo

Average Age

Experienced Management: CIVB's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Dennis Shaffer
President2.83yrsUS$660.15k0.095%
$ 248.9k
Harry Singer
Independent Director1.5yrsUS$41.87k0.049%
$ 129.3k
Daniel White
Independent Director18.83yrsUS$32.28k0.51%
$ 1.4m
David Voight
Director Emeritus3.25yrsUS$27.24kno data
James Miller
Chairman of the Board6.58yrsUS$133.56k0.17%
$ 444.2k
Mary Oliver
Independent Director3.17yrsUS$30.91k0.016%
$ 42.9k
Allen Nickles
Independent Director17.83yrsUS$38.07k0.77%
$ 2.0m
William Ritzmann
Independent Director2.17yrsUS$39.95k0.35%
$ 924.2k
James Heckelman
Directors Emeritusno dataUS$3.30kno data
Thomas Depler
Independent Director13.58yrsUS$39.43k0.19%
$ 488.4k
Dennis Murray
Lead Independent Director5.83yrsUS$35.32k0.24%
$ 639.9k
Julie Mattlin
Independent Director2.17yrsUS$35.90k0.032%
$ 83.3k

3.6yrs

Average Tenure

69yo

Average Age

Experienced Board: CIVB's board of directors are considered experienced (3.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.8%.


Top Shareholders

Company Information

Civista Bancshares, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Civista Bancshares, Inc.
  • Ticker: CIVB
  • Exchange: NasdaqCM
  • Founded: 1884
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$263.220m
  • Shares outstanding: 15.91m
  • Website: https://www.civb.com

Number of Employees


Location

  • Civista Bancshares, Inc.
  • 100 East Water Street
  • PO Box 5016
  • Sandusky
  • Ohio
  • 44870-2514
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CIVBNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDApr 1993
44QDB (Deutsche Boerse AG)YesCommon StockDEEURApr 1993

Biography

Civista Bancshares, Inc. operates as the financial holding company for Civista Bank that provides community banking services. The company collects a range of customer deposits; and offers commercial, comme...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/23 00:32
End of Day Share Price2020/11/20 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.