Piper Sandler Boosts Civista Bancshares (NASDAQ:CIVB) Price Target to $24.00

Civista Bancshares (NASDAQ:CIVB) had its price objective boosted by stock analysts at Piper Sandler from $23.00 to $24.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target indicates a potential upside of 6.48% from the company’s previous close.

CIVB has been the subject of a number of other reports. DA Davidson set a $27.00 target price on shares of Civista Bancshares in a report on Friday, January 31st. StockNews.com upgraded Civista Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, February 22nd. Keefe, Bruyette & Woods increased their price target on Civista Bancshares from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Finally, Stephens boosted their price objective on Civista Bancshares from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Civista Bancshares has an average rating of “Moderate Buy” and an average price target of $25.20.

Civista Bancshares Trading Up 1.2 %

Civista Bancshares stock opened at $22.54 on Monday. Civista Bancshares has a 12-month low of $13.60 and a 12-month high of $23.70. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $348.90 million, a PE ratio of 11.16 and a beta of 0.67. The firm has a 50 day simple moving average of $19.84 and a 200-day simple moving average of $20.69.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, topping the consensus estimate of $0.50 by $0.16. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. The firm had revenue of $40.63 million for the quarter, compared to analysts’ expectations of $40.33 million. As a group, equities research analysts expect that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Civista Bancshares

A number of hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Civista Bancshares by 210.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank’s stock valued at $3,152,000 after buying an additional 101,610 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Civista Bancshares in the fourth quarter worth about $1,774,000. American Century Companies Inc. lifted its position in shares of Civista Bancshares by 55.0% during the fourth quarter. American Century Companies Inc. now owns 191,316 shares of the bank’s stock worth $4,025,000 after purchasing an additional 67,889 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Civista Bancshares by 166.8% during the fourth quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank’s stock valued at $1,950,000 after purchasing an additional 57,950 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Civista Bancshares in the 4th quarter worth approximately $1,059,000. Institutional investors and hedge funds own 52.10% of the company’s stock.

About Civista Bancshares

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.