Civista Bancshares (NASDAQ:CIVB) Raised to “Buy” at StockNews.com

Civista Bancshares (NASDAQ:CIVBGet Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

A number of other equities analysts have also recently commented on the company. Stephens raised their target price on Civista Bancshares to $27.00 in a report on Tuesday, August 23rd. Hovde Group cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $25.00 price objective for the company. in a research note on Friday, July 29th. Finally, DA Davidson reiterated a “buy” rating on shares of Civista Bancshares in a research note on Wednesday, July 27th.

Civista Bancshares Stock Performance

Shares of Civista Bancshares stock opened at $21.23 on Wednesday. The business has a 50-day moving average of $21.65 and a 200 day moving average of $22.00. Civista Bancshares has a 12 month low of $20.10 and a 12 month high of $25.94. The stock has a market capitalization of $327.35 million, a price-to-earnings ratio of 8.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91.

Civista Bancshares (NASDAQ:CIVBGet Rating) last announced its earnings results on Thursday, July 28th. The bank reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Civista Bancshares had a return on equity of 11.04% and a net margin of 28.80%. The company had revenue of $29.90 million during the quarter, compared to analysts’ expectations of $30.90 million. During the same period last year, the business posted $0.59 EPS. As a group, sell-side analysts forecast that Civista Bancshares will post 2.42 earnings per share for the current year.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Civista Bancshares by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 680,374 shares of the bank’s stock worth $16,397,000 after acquiring an additional 4,800 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Civista Bancshares by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 600,664 shares of the bank’s stock worth $14,476,000 after buying an additional 26,426 shares during the period. The Manufacturers Life Insurance Company increased its position in Civista Bancshares by 8.8% during the first quarter. The Manufacturers Life Insurance Company now owns 576,602 shares of the bank’s stock worth $13,896,000 after buying an additional 46,686 shares during the period. Wellington Management Group LLP increased its position in Civista Bancshares by 8.9% during the first quarter. Wellington Management Group LLP now owns 509,159 shares of the bank’s stock worth $12,271,000 after buying an additional 41,700 shares during the period. Finally, Pacific Ridge Capital Partners LLC increased its position in Civista Bancshares by 11.2% during the second quarter. Pacific Ridge Capital Partners LLC now owns 279,636 shares of the bank’s stock worth $5,945,000 after buying an additional 28,158 shares during the period. Institutional investors and hedge funds own 52.59% of the company’s stock.

About Civista Bancshares

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Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.

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