Civista Bancshares (CIVB) AI Stock Analysis

• Market Cap: $458.46M
• Dividend Yield: 2.96%
• Average Volume (3M): 106.13K
• Price to Earnings (P/E): 8.4
• Beta (1Y): 0.81
• Revenue Growth: 3.49%
• EPS Growth: 33.86%
• Country: US
• Employees: 520
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.75
• Shares Outstanding: 20,735,289
• 10 Day Avg. Volume: 178,429
• 30 Day Avg. Volume: 106,125
• PEG Ratio: 0.27
• Price to Book (P/B): 0.72
• Price to Sales (P/S): 1.53
• P/FCF Ratio: 8.81
• Enterprise Value/Market Cap: 1.43
• Enterprise Value/Revenue: 2.60
• Enterprise Value/Gross Profit: 3.94
• Enterprise Value/Ebitda: 11.77
• 1Y Price Target: $27.33
• Price Target Upside: 23.61% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 2.61
• Revenue Forecast (FY): $191.00M

• Rating: 64 Neutral
• Price Target: $24.00 ▲(8.55% Upside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is driven primarily by mixed financial quality—good revenue/earnings trends and improved leverage, but notably weaker and more volatile operating cash flow. Attractive valuation (low P/E and ~3% yield) and a positive earnings-call outlook for loan growth, NIM, and funding mix support the score, while bearish near-term technical momentum holds it back.

Positive Factors

Stronger capital & lower leverage

Civista materially reduced leverage and grew equity, raising tier 1 and tangible common equity ratios. This stronger capital base lowers solvency risk, increases capacity for organic/inorganic loan growth and buybacks, and provides durable flexibility to absorb credit stress or fund strategic investments.

NIM expansion and improved funding

NIM widened as funding costs fell faster than earning asset yields. Combined with a decline in cost of deposits and reduced brokered funding, this shift to lower-cost core deposits supports sustainable net interest income and earnings resilience across a range of rate scenarios.

Acquisition adds low-cost deposits and loans

The Farmers acquisition materially increased low-cost core deposits and loan balances, bolstering funding mix and lending capacity. Structural deposit gains reduce reliance on brokered funding and provide a durable source of low-cost liquidity to support mid-term loan growth and margin stability.

Negative Factors

Weak, volatile operating cash flow

Operating cash conversion has weakened and become volatile, with free cash flow down ~65% year-over-year. Persistent low cash quality limits internal funding for growth, raises sensitivity of dividends/repurchases to earnings, and increases reliance on external funding or capital actions.

Declining, lumpy noninterest income (leasing)

Lease-related noninterest income has declined and is described as unpredictable. Reduced fee diversification increases earnings dependence on net interest income and makes profitability more cyclical, limiting stable cash flow and reducing resilience during NII pressure or loan losses.

Asset-quality sensitivity and concentrated NPL move

A modest uptick in NPLs driven by a single participation highlights concentration and idiosyncratic credit risk. Even with stable ACL coverage, localized credit deterioration can force higher provisions, compress returns on equity and constrain capital returns during periods of stress.

Civista Bancshares Business Overview & Revenue Model

Company Description

Civista 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 Money

Civista Bancshares generates revenue primarily through interest income from loans and investments, as well as non-interest income from various fees and service charges. The company earns interest income by lending money to customers in the form of personal loans, mortgages, and business loans, with the interest on these loans representing a significant portion of its revenue. Additionally, Civista Bank collects fees for account maintenance, transaction services, and financial advisory services, contributing to its non-interest income. Partnerships with other financial institutions and service providers enhance its product offerings and customer reach, further supporting its revenue generation. Overall, the combination of interest income from lending activities and non-interest income from service fees forms the backbone of Civista Bancshares' financial performance.

Civista Bancshares Financial Statement Overview

Summary

Income statement strength (revenue growth and 2025 earnings rebound) and a healthier balance sheet (lower leverage, higher equity) are offset by weak/volatile cash generation, with 2025 operating cash flow and free cash flow down sharply versus prior years and lower cash-quality signals.

Income Statement

Revenue has expanded meaningfully over the period (2020: $126.2M to 2025: $255.0M), with a notable step-up in 2022–2023 and continued growth in 2025. Profitability is solid in 2025 with an ~18% net margin, and earnings recovered strongly from 2024 (net income $31.7M to $46.2M). The main weakness is margin compression versus prior peaks (net margin ~30% in 2021 and ~26% in 2022), indicating reduced profitability per dollar of revenue compared with earlier years.

Balance Sheet

Leverage has improved materially: debt-to-equity declined from elevated levels in 2022–2023 (~1.9x–1.2x) to ~0.52x in 2025, while equity increased to $543.5M (from $388.5M in 2024). Returns on equity are steady but not exceptional (mid-to-high single digits in 2024–2025, ~8%–9%), down from stronger levels in 2022–2023 (~11%–12%). Overall, the balance sheet trend is positive on risk reduction, but profitability on capital has softened.

Cash Flow

Cash generation has become more volatile and weakened in the latest year: operating cash flow fell to $18.0M in 2025 from $48.2M in 2024 and $62.7M in 2023, driving a sharp decline in free cash flow (2025 down ~65% year over year). While 2025 free cash flow roughly matches net income in the dataset, the consistently low conversion of earnings into operating cash flow (per the provided coverage ratios) points to weaker cash quality and higher variability versus reported profits.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	254.95M	241.90M	217.48M	152.98M	134.19M
Gross Profit	169.17M	146.55M	155.80M	135.28M	123.73M
EBITDA	55.23M	47.60M	62.95M	52.79M	51.25M
Net Income	46.21M	31.68M	42.96M	39.43M	40.55M
Balance Sheet
Total Assets	4.34B	4.10B	3.86B	3.64B	3.01B
Cash, Cash Equivalents and Short-Term Investments	761.92M	329.94M	679.90M	660.24M	815.06M
Total Debt	284.18M	450.88M	454.19M	643.35M	204.23M
Total Liabilities	3.79B	3.71B	3.49B	3.30B	2.66B
Stockholders Equity	543.47M	388.50M	372.00M	334.83M	355.21M
Cash Flow
Free Cash Flow	44.14M	44.06M	59.27M	18.68M	38.83M
Operating Cash Flow	18.02M	48.25M	62.70M	25.18M	40.76M
Investing Cash Flow	-66.76M	-258.80M	-311.78M	-410.36M	-130.50M
Financing Cash Flow	63.65M	213.30M	266.13M	164.30M	216.93M

Civista Bancshares Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 22.11
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CIVB, the sentiment is Negative. The current price of 22.11 is below the 20-day moving average (MA) of 23.02, below the 50-day MA of 23.26, and above the 200-day MA of 21.82, indicating a neutral trend. The MACD of -0.44 indicates Positive momentum. The RSI at 37.51 is Neutral, neither overbought nor oversold. The STOCH value of 28.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CIVB.

Civista Bancshares Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GCBC	76 Outperform	$377.31M	9.19	15.00%	1.63%	13.16%	37.40%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FRBA	65 Neutral	$389.08M	9.41	10.03%	1.41%	9.76%	4.43%
CIVB	64 Neutral	$458.46M	8.42	9.73%	2.96%	3.49%	33.86%
BSRR	64 Neutral	$434.63M	8.40	11.07%	3.03%	-0.65%	14.14%
BMRC	63 Neutral	$388.49M	9.53	2.24%	3.76%	23.93%	―
BRBS	49 Neutral	$362.62M	26.69	3.15%	―	-15.07%	―

Civista Bancshares Corporate Events

Civista Bancshares Announces CEO Retirement and Succession Plan

Civista Bancshares announced on March 2, 2026, that longtime President and CEO Dennis Shaffer will retire effective August 28, 2026, after more than 40 years in banking, while remaining as chairman of the board and a director to support the transition. Current Civista Bank president Charles “Chuck” Parcher will become president and CEO of both Civista Bancshares and Civista Bank, a move the board framed as the culmination of a multiyear succession plan designed to preserve the company’s independence, strategic continuity and focus on disciplined growth and community banking across its Midwestern footprint.

The most recent analyst rating on (CIVB) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on Civista Bancshares stock, see the CIVB Stock Forecast page.

Civista Bancshares Elevates Veronica Doucette to Officer Role

On February 26, 2026, Civista Bancshares, Inc. announced that Veronica Doucette, currently Senior Vice President and Human Resources Officer at Civista Bank, has been appointed an officer of the holding company, reflecting the board’s confidence in her leadership and strategic HR expertise. The move underscores Civista’s emphasis on strengthening leadership and aligning its operating subsidiaries, as Doucette’s long tenure since 2008 in advancing human resources practices, talent strategy and organizational development is expected to further support the company’s culture, employee initiatives and overall governance framework.

The most recent analyst rating on (CIVB) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on Civista Bancshares stock, see the CIVB Stock Forecast page.

Civista Bancshares Sets 2026 Annual Shareholder Meeting Date

Civista Bancshares, Inc. has set May 19, 2026 as the date for its 2026 annual meeting of shareholders, with March 24, 2026 as the record date for voting eligibility. The board moved the meeting from its typical third Tuesday in April schedule, citing the need for more time to use notice-and-access procedures for proxy materials and to accommodate a venue change.

Because the May 19, 2026 meeting date falls more than 30 days after the April 15, 2025 annual meeting, the company has reset deadlines for shareholder proposals and director nominations. Shareholder proposals for inclusion in proxy materials are due by March 2, 2026, other proposals must be submitted between February 18 and March 20, 2026, and director nominations must arrive between March 30 and May 5, 2026, clarifying the timetable for investors seeking to influence governance or board composition.

The most recent analyst rating on (CIVB) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on Civista Bancshares stock, see the CIVB Stock Forecast page.

Civista Bancshares Boosts Quarterly Dividend, Signals Confidence

On January 28, 2026, Civista Bancshares, Inc. announced that its board approved a quarterly common dividend of $0.18 per share, a one-cent, or 5.9%, increase from the prior quarter, to be paid on February 24, 2026, to shareholders of record as of February 10, 2026. The higher dividend amounts to an estimated $3.7 million payout and, based on Civista’s December 31, 2025 closing share price of $22.22, equates to an annualized yield of 3.24%, underscoring the regional lender’s ongoing capital return to shareholders and signaling confidence in its financial position within the community banking sector.

The most recent analyst rating on (CIVB) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Civista Bancshares stock, see the CIVB Stock Forecast page.

Civista Bancshares Schedules Fourth-Quarter 2025 Earnings Release

On December 19, 2025, Civista Bancshares, Inc. announced that it will release its fourth-quarter 2025 financial results before the market opens on January 29, 2026. The company will also host a conference call and webcast that same day at 1:00 p.m. Eastern Time to discuss the results, with a live stream and subsequent archive available on its website, underscoring its efforts to maintain transparency with analysts and investors regarding its financial performance.

The most recent analyst rating on (CIVB) stock is a Hold with a $25.00 price target. To see the full list of analyst forecasts on Civista Bancshares stock, see the CIVB Stock Forecast page.