Zacks Research Upgrades Civista Bancshares (NASDAQ:CIVB) to Hold

Civista Bancshares (NASDAQ:CIVB) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently commented on CIVB. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Keefe, Bruyette & Woods increased their price target on Civista Bancshares from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Hovde Group lifted their price objective on shares of Civista Bancshares from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Finally, DA Davidson reiterated a “buy” rating and issued a $28.00 target price on shares of Civista Bancshares in a report on Friday, January 30th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

Civista Bancshares Trading Up 1.3%

Shares of CIVB stock opened at $24.15 on Monday. Civista Bancshares has a twelve month low of $17.47 and a twelve month high of $25.59. The stock’s fifty day simple moving average is $23.40 and its 200 day simple moving average is $21.94. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $466.41 million, a P/E ratio of 9.08 and a beta of 0.70.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. The firm had revenue of $46.34 million for the quarter, compared to analyst estimates of $45.43 million. Civista Bancshares had a return on equity of 11.14% and a net margin of 18.12%. As a group, sell-side analysts predict that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Institutional Trading of Civista Bancshares

A number of institutional investors have recently added to or reduced their stakes in the stock. Strategic Value Bank Partners LLC purchased a new position in Civista Bancshares during the 3rd quarter valued at about $2,031,000. Assenagon Asset Management S.A. bought a new stake in Civista Bancshares during the 3rd quarter worth approximately $1,603,000. Bailard Inc. increased its holdings in Civista Bancshares by 19.4% during the 2nd quarter. Bailard Inc. now owns 21,526 shares of the bank’s stock worth $499,000 after acquiring an additional 3,500 shares during the period. Los Angeles Capital Management LLC bought a new position in Civista Bancshares in the 2nd quarter valued at $385,000. Finally, American Century Companies Inc. boosted its holdings in Civista Bancshares by 13.0% in the 2nd quarter. American Century Companies Inc. now owns 246,121 shares of the bank’s stock valued at $5,710,000 after purchasing an additional 28,344 shares during the period. Hedge funds and other institutional investors own 52.10% of the company’s stock.

About Civista Bancshares

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.