Civista Bancshares (NASDAQ:CIVB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $27.00 price target on the bank’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.78% from the company’s previous close.
According to Zacks, “Civista Bancshares, Inc. is a bank holding company. The Company is involved in the business of community banking, through its subsidiaries. It operates primarily in Ohio. Civista Bancshares, Inc., formerly known as First Citizens Banc Corp, is based in SANDUSKY, United States. “
Several other research firms have also weighed in on CIVB. BidaskClub lowered Civista Bancshares from a “strong-buy” rating to a “buy” rating in a report on Friday, June 8th. Hovde Group restated a “hold” rating and issued a $26.00 target price on shares of Civista Bancshares in a report on Thursday, August 2nd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $31.00 target price on shares of Civista Bancshares in a report on Monday, July 30th. Finally, Boenning Scattergood restated a “buy” rating on shares of Civista Bancshares in a report on Monday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Civista Bancshares presently has a consensus rating of “Hold” and a consensus price target of $26.50.
Shares of Civista Bancshares stock opened at $23.73 on Thursday. The stock has a market cap of $260.82 million, a PE ratio of 17.84, a PEG ratio of 1.76 and a beta of 0.42. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.04 and a quick ratio of 1.03. Civista Bancshares has a 52-week low of $19.73 and a 52-week high of $25.88.
Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Friday, July 27th. The bank reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $19.16 million during the quarter, compared to analyst estimates of $19.47 million. Civista Bancshares had a return on equity of 12.18% and a net margin of 22.09%. equities analysts expect that Civista Bancshares will post 1.72 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Fort Washington Investment Advisors Inc. OH lifted its holdings in Civista Bancshares by 11.2% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 89,269 shares of the bank’s stock worth $2,164,000 after purchasing an additional 8,998 shares during the last quarter. BlackRock Inc. increased its position in Civista Bancshares by 3.5% in the 1st quarter. BlackRock Inc. now owns 480,500 shares of the bank’s stock worth $10,983,000 after buying an additional 16,092 shares during the period. Russell Investments Group Ltd. increased its position in Civista Bancshares by 9.8% in the 1st quarter. Russell Investments Group Ltd. now owns 117,940 shares of the bank’s stock worth $2,698,000 after buying an additional 10,502 shares during the period. RMB Capital Management LLC increased its position in Civista Bancshares by 14.7% in the 1st quarter. RMB Capital Management LLC now owns 498,936 shares of the bank’s stock worth $11,406,000 after buying an additional 64,053 shares during the period. Finally, Mackay Shields LLC bought a new position in Civista Bancshares in the 2nd quarter worth approximately $305,000. Hedge funds and other institutional investors own 53.83% of the company’s stock.
About Civista Bancshares
Civista Bancshares, Inc operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.
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