Civista Bancshares (CIVB) Lowered to Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Civista Bancshares (NASDAQ:CIVB) from a hold rating to a sell rating in a report released on Tuesday morning.

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 equities research analysts have also weighed in on the company. Boenning Scattergood lowered Civista Bancshares from an outperform rating to a neutral rating in a research report on Monday. BidaskClub lowered Civista Bancshares from a hold rating to a sell rating in a research report on Tuesday, October 2nd. Hovde Group upgraded Civista Bancshares from a market perform rating to an outperform rating and set a $26.00 price target on the stock in a research report on Wednesday, September 19th. Finally, Keefe, Bruyette & Woods restated a buy rating and set a $31.00 price target on shares of Civista Bancshares in a research report on Monday, July 30th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $26.50.

Shares of CIVB stock traded down $0.07 during trading hours on Tuesday, reaching $21.18. The company’s stock had a trading volume of 75 shares, compared to its average volume of 44,067. The firm has a market cap of $232.01 million, a P/E ratio of 15.92, a P/E/G ratio of 1.98 and a beta of 0.53. Civista Bancshares has a one year low of $20.41 and a one year high of $25.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.03 and a current ratio of 1.04.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Friday, November 2nd. The bank reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. The firm had revenue of $19.11 million for the quarter, compared to analyst estimates of $22.16 million. Civista Bancshares had a return on equity of 12.69% and a net margin of 12.75%. As a group, equities analysts predict that Civista Bancshares will post 1.36 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Tuesday, October 23rd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, October 22nd. This represents a $0.36 annualized dividend and a dividend yield of 1.70%. Civista Bancshares’s dividend payout ratio is presently 27.07%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of Civista Bancshares by 15.0% during the third quarter. Bank of New York Mellon Corp now owns 55,366 shares of the bank’s stock valued at $1,334,000 after purchasing an additional 7,235 shares in the last quarter. Alliancebernstein L.P. purchased a new position in Civista Bancshares during the third quarter valued at $892,000. Seidman Lawrence B purchased a new position in Civista Bancshares during the third quarter valued at $4,577,000. Monarch Partners Asset Management LLC raised its stake in Civista Bancshares by 10.2% during the third quarter. Monarch Partners Asset Management LLC now owns 39,100 shares of the bank’s stock valued at $942,000 after buying an additional 3,610 shares during the last quarter. Finally, Salzhauer Michael purchased a new position in Civista Bancshares during the third quarter valued at $1,378,000. Institutional investors own 57.18% of the company’s stock.

Civista Bancshares Company Profile

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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