Civista Bancshares (NASDAQ:CIVB – Get Rating) was upgraded from a “hold” rating to a “buy” rating by StockNews.com in a report published on Friday.
Other equities analysts have also issued reports on the stock. Hovde Group downgraded shares of Civista Bancshares from an outperform rating to a market perform rating and set a price target of $25.00 for the stock. in a report on Friday, July 29. Piper Sandler lowered her target price on Civista Bancshares to $23.50 in a report on Thursday, September 29. Stephens raised its price target on Civista Bancshares to $27.00 in a research note on Tuesday, August 23. Finally, DA Davidson lowered his price target on Civista Bancshares from $32.00 to $29.00 in a research report on Monday, October 3rd.
Civista Banc shares up 3.8%
NASDAQ:CIVB was up $0.86 on Friday midday to hit $23.41. 50,224 shares of the company were traded compared to an average volume of 38,341. The company has a debt to equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $360.96 million, a P/E of 9.48 and a beta of 0.78. The company has a 50-day moving average of $21.37 and a 200-day moving average of $21.49. Civista Bancshares has a 12-month low of $20.10 and a 12-month high of $25.94.
Civista Bancshares (NASDAQ:CIVB – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $29.90 million for the quarter, compared to analyst estimates of $30.90 million. Civista Bancshares had a net margin of 28.80% and a return on equity of 11.04%. In the same period last year, the company posted $0.59 per share. On average, analysts are forecasting that Civista Bancshares will post 2.41 EPS for the year to date.
Hedge funds rely on Civista Bancshares
Institutional investors and hedge funds have recently changed their stock holdings. Panagora Asset Management Inc. increased its position in Civista Bancshares by 0.7% in the first quarter. Panagora Asset Management Inc. now owns 101,142 shares of the bank, valued at $2,438,000, after purchasing an additional 748 shares last quarter. Strs Ohio added 5.0% to its stake in Civista Bancshares in the third quarter. Strs Ohio now owns 29,600 shares of the bank, worth $614,000, after buying another 1,400 shares last quarter. Fifth Third Bancorp acquired a $30,000 new interest in Civista Bancshares during the third quarter. Boston Partners increased its stake in Civista Bancshares by 6.7% in the first quarter. Boston Partners now owns 23,460 shares of the bank, valued at $565,000, after purchasing an additional 1,466 shares last quarter. Finally, BHZ Capital Management LP increased its position in shares of Civista Bancshares by 2.0% in the first quarter. BHZ Capital Management LP now owns 74,371 shares of the bank valued at $1,792,000 after purchasing an additional 1,468 shares during the period. Institutional investors and hedge funds own 52.59% of the company’s shares.
Civista Bancshares Company Profile
Civista Bancshares, Inc is a financial holding company engaged in the community banking business. It provides financial services through its offices in Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland counties in Ohio. The Company’s primary deposit products are checking, savings and term certificate accounts, and its lending products are mortgage, commercial and residential installment loans.
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