ValuEngine lowered shares of Civista Bancshares (NASDAQ:CIVB) from a strong-buy rating to a buy rating in a research note released on Thursday.

Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Civista Bancshares from a hold rating to a sell rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods restated a buy rating and issued a $24.00 target price on shares of Civista Bancshares in a research note on Wednesday, October 4th. Finally, Sandler O’Neill restated a buy rating and issued a $25.00 target price (up previously from $23.50) on shares of Civista Bancshares in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Civista Bancshares currently has a consensus rating of Buy and an average target price of $24.38.

Shares of Civista Bancshares (CIVB) traded down $0.26 during mid-day trading on Thursday, hitting $22.40. The stock had a trading volume of 27,800 shares, compared to its average volume of 42,284. Civista Bancshares has a twelve month low of $16.78 and a twelve month high of $23.76. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $238.41, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 2.21 and a beta of 0.59.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Friday, October 27th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Civista Bancshares had a net margin of 21.56% and a return on equity of 10.32%. The business had revenue of $17.15 million for the quarter, compared to analysts’ expectations of $17.60 million. analysts anticipate that Civista Bancshares will post 1.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 17th were paid a $0.07 dividend. The ex-dividend date was Monday, October 16th. This represents a $0.28 dividend on an annualized basis and a yield of 1.25%. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.06. Civista Bancshares’s payout ratio is 21.37%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Castine Capital Management LLC grew its stake in Civista Bancshares by 45.8% in the third quarter. Castine Capital Management LLC now owns 334,843 shares of the bank’s stock valued at $7,480,000 after purchasing an additional 105,228 shares in the last quarter. Wells Fargo & Company MN grew its stake in Civista Bancshares by 459.9% in the third quarter. Wells Fargo & Company MN now owns 40,162 shares of the bank’s stock valued at $896,000 after purchasing an additional 32,989 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Civista Bancshares by 43.5% in the third quarter. Russell Investments Group Ltd. now owns 102,387 shares of the bank’s stock valued at $2,288,000 after purchasing an additional 31,023 shares in the last quarter. Context BH Capital Management LP grew its stake in Civista Bancshares by 9.7% in the third quarter. Context BH Capital Management LP now owns 57,380 shares of the bank’s stock valued at $1,282,000 after purchasing an additional 5,062 shares in the last quarter. Finally, Boston Partners acquired a new stake in shares of Civista Bancshares in the third quarter worth about $1,492,000. Hedge funds and other institutional investors own 43.92% of the company’s stock.

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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.

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