Keefe, Bruyette & Woods upgraded shares of Civista Bancshares Inc. (NASDAQ:CIVB) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday.

Other research analysts have also issued reports about the company. Hovde Group raised their target price on Civista Bancshares from $15.25 to $15.75 and gave the stock a market perform rating in a research report on Monday, October 24th. Sandler O’Neill raised Civista Bancshares from a hold rating to a buy rating in a research report on Monday, October 24th.

Shares of Civista Bancshares (NASDAQ:CIVB) opened at 16.94 on Tuesday. The company has a market cap of $139.57 million, a price-to-earnings ratio of 11.04 and a beta of 0.46. The company’s 50-day moving average price is $14.89 and its 200 day moving average price is $13.86. Civista Bancshares has a 12-month low of $9.75 and a 12-month high of $15.72.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, October 14th. Civista Bancshares’s dividend payout ratio (DPR) is presently 15.69%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pinnacle Holdings LLC raised its position in Civista Bancshares by 16.2% in the second quarter. Pinnacle Holdings LLC now owns 61,552 shares of the company’s stock valued at $806,000 after buying an additional 8,580 shares during the period. HL Financial Services LLC purchased a new stake in shares of Civista Bancshares during the second quarter valued at approximately $172,000. Morgan Stanley increased its stake in shares of Civista Bancshares by 26.4% in the third quarter. Morgan Stanley now owns 23,510 shares of the company’s stock valued at $333,000 after buying an additional 4,904 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Civista Bancshares by 108.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 74,889 shares of the company’s stock valued at $1,062,000 after buying an additional 38,947 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Civista Bancshares by 4.5% in the third quarter. Wells Fargo & Company MN now owns 11,555 shares of the company’s stock valued at $164,000 after buying an additional 500 shares in the last quarter. 14.94% of the stock is owned by hedge funds and other institutional investors.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.

5 Day Chart for NASDAQ:CIVB

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