Civista Bancshares Inc CIVB

FinancialsBanking ServicesUnited States of America

Last close 28.98 USD on Nov 2, 2026, +33.2% year to date

Quant rating

Quant rating B Rank 186 of 799 in Financials

Growth C 435 of 799
Valuation C 378 of 799
Quality B 293 of 799
Revisions B 248 of 799
Momentum B 189 of 799

Wall Street consensus Buy (2.50)Average target 31.17 USD +7.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 600M
Enterprise value: 640M
52-week range: 21.10 – 29.70
3-year range: 13.80 – 29.70
Dividend yield: 2.55%
Beta (5 years): 0.64
Shares outstanding: 20.7M
Next earnings: Jan 27, 2027

About the company

Civista Bancshares, Inc. is a financial holding company. The Company, through its subsidiary, Civista Bank, is engaged in providing full-service banking, commercial lending, mortgage and wealth management services. Civista Bank, through its locations in Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Huron, Logan, Madison, Montgomery, Ottawa, Richland, Henry, Wood and Summit, in the Indiana counties of Dearborn and Ripley and in the Kentucky county of Kenton, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services. It is also engaged in a general equipment leasing and financing business through its Civista Leasing & Financing (CLF) division. Civista Wealth Management division offers investment advisory services to individuals, families, businesses, and non-profits with personalized investment management, 401(k) advisory services for employers, financial planning, and trust services.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	221	207	183	126	105	–
Revenue growth	6.9%	13.1%	44.8%	20.1%	5.2%	17.2%
EPS (basic, normalized)	2.64	1.78	2.73	2.60	2.63	–
EPS growth	48.8%	−34.9%	5.0%	−1.2%	3.6%	0.8%
Gross margin	–	–	–	–	–	–
Net margin	20.8%	15.0%	22.6%	30.9%	38.4%	25.6%
ROE	10.6%	8.2%	12.5%	12.5%	11.5%	11.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	15.3%
Long-term debt (mil)	107
Net debt (mil)	–
Total equity (mil)	553
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	221	+6.9%	2.9x	26.20	+4.2%	1.1x	2.79	+38.8%	10.4x
2026	194	−12.3%	3.3x	28.10	+7.3%	1.0x	2.88	+3.4%	10.0x
2027	203	+4.9%	3.1x	30.15	+7.3%	1.0x	2.97	+3.0%	9.8x
2028	208	+2.3%	3.1x	31.77	+5.4%	0.9x	3.11	+4.9%	9.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	194	+0.1%	−0.2%	−0.7%	2.88	+1.6%	+1.7%	+2.1%
2027	203	+0.3%	−0.1%	−0.9%	2.97	+1.4%	+1.6%	+2.3%
2028	208	−1.0%	–	–	3.11	+2.1%	–	–

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	36.9	38.3	38.9	38.3	38.9	39.9	42.1	44.1	47.3	47.6
Sales mean (mil)	38.3	37.1	37.8	40.0	40.4	42.8	43.6	45.4	45.5	48.1
Surprise	−3.8%	+3.3%	+2.9%	−4.3%	−3.5%	−6.6%	−3.4%	−3.0%	+3.8%	−1.0%
EPS reported	0.41	0.45	0.53	0.63	0.66	0.71	0.68	0.75	0.72	0.69
EPS mean	0.46	0.39	0.44	0.53	0.52	0.70	0.60	0.57	0.62	0.61
Surprise	−10.9%	+15.8%	+21.3%	+18.0%	+28.2%	+2.0%	+13.2%	+30.8%	+16.6%	+13.0%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
CIVB Civista Bancshares Inc	600M	15.3%	20.8%	1.07x	10.0x	9.8x	1.0x	1.0x
MBWM Mercantile Bank Corporation	1.1B	12.3%	26.9%	1.11x	11.0x	10.5x	1.4x	1.2x
Mean		13.8%	23.9%	1.09x	10.5x	10.1x	1.2x	1.1x
Median		13.8%	23.9%	1.09x	10.5x	10.1x	1.2x	1.1x

Technical analysis

1M+7.4%
3M+0.3%
1Y+38.5%
3Y+118.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Civista Bancshares Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	221	207	183	126	105	99.9
Total interest expense	82.4	90.0	57.2	16.0	9.6	10.1
Net interest income	139	117	125	110	95.4	89.7
Loan loss provision	3.4	5.4	4.4	1.8	0.8	–
Net interest income after loan loss provision	135	111	121	108	94.6	89.7
Non-interest income	34.0	37.7	37.2	29.1	31.5	28.2
Non-interest expense	−114	−113	−108	−90.5	−77.7	−80.8
Net income before taxes	55.2	36.6	50.6	47.0	48.4	37.1
Provision for taxes	9.0	4.9	7.6	7.6	7.8	4.9
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	46.2	31.7	43.0	39.4	40.5	32.2
Extraordinary items	–	–	–	–	–	–
Net income	46.2	31.7	43.0	39.4	40.5	32.2
Basic weighted average shares (mil)	17.4	15.4	15.2	15.0	15.3	16.1
Diluted weighted average shares (mil)	17.4	15.4	15.2	15.0	15.3	16.1
Basic EPS excluding extraordinary items	2.64	2.01	2.73	2.60	2.63	2.00
Basic EPS, normalized	2.64	1.78	2.73	2.60	2.63	2.54

Balance sheet in millions of USD, fiscal years

Balance sheet, Civista Bancshares Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	77.3	63.2	60.4	43.4	253	126
Other earning assets	782	746	715	707	628	440
Net loans	3,228	3,042	2,825	2,620	1,971	2,032
Property, plant & equipment	43.0	48.2	58.4	66.1	22.4	25.3
Goodwill	130	126	126	126	76.9	76.9
Intangibles	13.1	7.9	9.5	10.8	7.6	8.1
Long-term investments	–	–	–	–	–	–
Other long-term assets	16.5	21.7	18.4	18.4	–	–
Other assets	46.0	44.7	49.9	48.4	53.0	60.1
Total assets	4,336	4,098	3,861	3,639	3,013	2,769
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	36.6	35.6	37.7	24.7	25.7	24.3
Total deposits	3,466	3,212	2,985	2,620	2,417	2,189
Other bearing liabilities	176	341	340	397	75.0	125
Short-term borrowings	0	–	0	25.1	25.5	28.9
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	108	110	114	221	104	29.4
Minority interest	–	–	–	–	–	–
Other liabilities	5.7	11.6	12.5	16.6	11.1	21.8
Total liabilities	3,793	3,710	3,489	3,305	2,658	2,419
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	420	312	311	310	278	277
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	240	205	184	156	126	93.0
Treasury stock	−75.8	−75.6	−75.4	−73.8	−56.9	−34.6
Other equity	−40.3	−53.4	−47.5	−58.0	8.8	14.6
Total equity	543	389	372	335	355	350
Total liabilities & shareholders' equity	4,336	4,098	3,861	3,639	3,013	2,769

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Civista Bancshares Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	46.2	31.7	43.0	39.4	40.5	32.2
Depreciation, depletion & amortization	9.9	11.0	12.3	5.8	2.9	3.2
Deferred taxes	1.2	−1.9	−0.7	0.5	1.3	−2.3
Non-cash items	0.6	−2.5	−1.4	−20.8	−9.0	−2.4
Changes in working capital	−14.6	9.9	9.5	0.3	5.0	1.9
Cash from operations	43.3	48.2	62.7	25.2	40.8	32.7
Investing activities
Capital expenditures	−1.2	−4.2	−3.4	−6.5	−1.9	−2.0
Other investing cash flows	56.7	−255	−308	−404	−129	−339
Cash from investing	55.6	−259	−312	−410	−130	−341
Financing activities
Financing cash flow items	−146	227	283	232	174	419
Cash dividends paid	−11.8	−10.1	−9.6	−8.5	−8.0	−7.1
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	73.3	−3.6	−7.3	−59.5	51.1	−13.5
Cash from financing	−84.7	213	266	164	217	399
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	14.2	2.7	17.0	−221	127	90.5
Free cash flow	42.1	44.1	59.3	18.7	38.8	30.7

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.