Civista Bancshares (NASDAQ:CIVB) Upgraded to “Hold” at Zacks Investment Research

Civista Bancshares (NASDAQ:CIVB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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. “

A number of other equities analysts have also issued reports on the stock. ValuEngine lowered shares of Civista Bancshares from a “hold” rating to a “sell” rating in a research report on Monday. DA Davidson upgraded shares of Civista Bancshares from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Boenning Scattergood restated a “hold” rating on shares of Civista Bancshares in a research report on Friday, July 26th. Finally, BidaskClub upgraded shares of Civista Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Civista Bancshares currently has a consensus rating of “Hold” and an average target price of $25.00.

CIVB traded up $0.09 on Friday, reaching $22.76. The company had a trading volume of 14,200 shares, compared to its average volume of 36,217. The company has a fifty day moving average of $21.85 and a 200-day moving average of $21.72. The company has a market capitalization of $354.32 million, a P/E ratio of 12.30 and a beta of 0.84. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.65. Civista Bancshares has a one year low of $15.55 and a one year high of $23.19.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Friday, October 25th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). The company had revenue of $25.85 million during the quarter, compared to the consensus estimate of $26.12 million. Civista Bancshares had a net margin of 28.27% and a return on equity of 11.28%. Research analysts predict that Civista Bancshares will post 2 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Monarch Partners Asset Management LLC boosted its position in shares of Civista Bancshares by 13.4% during the 3rd quarter. Monarch Partners Asset Management LLC now owns 42,467 shares of the bank’s stock valued at $923,000 after purchasing an additional 5,030 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Civista Bancshares by 15.1% during the 3rd quarter. First Trust Advisors LP now owns 42,828 shares of the bank’s stock valued at $931,000 after purchasing an additional 5,616 shares in the last quarter. Beese Fulmer Investment Management Inc. bought a new position in shares of Civista Bancshares during the 3rd quarter valued at about $6,148,000. Mackay Shields LLC boosted its position in shares of Civista Bancshares by 11.3% during the 3rd quarter. Mackay Shields LLC now owns 71,199 shares of the bank’s stock valued at $1,548,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Civista Bancshares by 9.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 120,128 shares of the bank’s stock valued at $2,611,000 after purchasing an additional 10,198 shares in the last quarter. Institutional investors own 54.55% 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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