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

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

CIVB has been the topic of a number of other research reports. Wall Street Zen cut shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Piper Sandler upped their target price on Civista Bancshares from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.20.

Civista Bancshares Stock Down 0.7%

CIVB stock opened at $28.22 on Monday. The firm has a market cap of $586.41 million, a price-to-earnings ratio of 10.37 and a beta of 0.67. Civista Bancshares has a 1-year low of $18.94 and a 1-year high of $28.86. The firm has a fifty day moving average price of $25.82 and a two-hundred day moving average price of $24.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. The company had revenue of $47.25 million for the quarter, compared to the consensus estimate of $45.64 million. Research analysts predict that Civista Bancshares will post 2.84 EPS for the current year.

Institutional Investors Weigh In On Civista Bancshares

Several large investors have recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in shares of Civista Bancshares by 57.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after buying an additional 481 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Civista Bancshares by 5.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock worth $179,000 after buying an additional 485 shares in the last quarter. Barclays PLC grew its holdings in Civista Bancshares by 0.9% in the 3rd quarter. Barclays PLC now owns 54,603 shares of the bank’s stock worth $1,109,000 after buying an additional 498 shares in the last quarter. CWM LLC increased its position in Civista Bancshares by 12.1% in the 4th quarter. CWM LLC now owns 8,249 shares of the bank’s stock valued at $183,000 after acquiring an additional 893 shares during the period. Finally, Vista Investment Management raised its stake in Civista Bancshares by 5.3% during the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock valued at $404,000 after acquiring an additional 915 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Company Profile

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.