Civista Bancshares Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag
Civista Bancshares (NASDAQ:CIVB) Full Year 2023 Results
Key Financial Results
Revenue: US$158.2m (up 15% from FY 2022).
Net income: US$41.4m (up 6.3% from FY 2022).
Profit margin: 26% (down from 28% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: US$2.73 (up from US$2.60 in FY 2022).
CIVB Banking Performance Indicators
Net interest margin (NIM): 3.70% (down from 3.75% in FY 2022).
Non-performing loans: 0.53% (up from 0.26% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Civista Bancshares EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 1.4%.
Looking ahead, revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 1.8% from a week ago.
Valuation
Our analysis of these results suggests Civista Bancshares may be undervalued based on 6 important criteria we look at. Discover what analysts are forecasting and how the current share price shapes up by clicking here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
