Civista Bancshares (NASDAQ:CIVB) Earns Buy Rating from DA Davidson

DA Davidson restated their buy rating on shares of Civista Bancshares (NASDAQ:CIVB) in a report released on Wednesday morning, Analyst Ratings Network reports. DA Davidson also issued estimates for Civista Bancshares’ FY2022 earnings at $2.12 EPS.

Separately, Zacks Investment Research cut Civista Bancshares from a hold rating to a sell rating in a research report on Monday, January 3rd.

Shares of NASDAQ:CIVB opened at $25.03 on Wednesday. Civista Bancshares has a 52-week low of $16.46 and a 52-week high of $25.94. The stock has a market cap of $376.20 million, a price-to-earnings ratio of 9.82 and a beta of 0.93. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $24.61 and a 200-day moving average price of $23.73.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Tuesday, October 26th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. Civista Bancshares had a return on equity of 11.35% and a net margin of 29.43%. The firm had revenue of $30.86 million during the quarter, compared to analysts’ expectations of $30.90 million. During the same period last year, the business posted $0.48 earnings per share. As a group, equities analysts anticipate that Civista Bancshares will post 2.58 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in CIVB. Citigroup Inc. raised its position in Civista Bancshares by 144.9% during the third quarter. Citigroup Inc. now owns 1,812 shares of the bank’s stock valued at $42,000 after acquiring an additional 1,072 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Civista Bancshares by 73.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,846 shares of the bank’s stock valued at $43,000 after buying an additional 783 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Civista Bancshares by 46,720.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 2,341 shares of the bank’s stock valued at $52,000 after buying an additional 2,336 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Civista Bancshares by 26.3% in the third quarter. Hillsdale Investment Management Inc. now owns 2,400 shares of the bank’s stock valued at $56,000 after buying an additional 500 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Civista Bancshares by 102.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,957 shares of the bank’s stock valued at $92,000 after buying an additional 2,003 shares in the last quarter. Institutional investors own 52.44% of the company’s stock.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a financial holding company, which engages in the community banking business. It provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland. The firm’s primary deposit products are checking, savings, and term certificate accounts, and its lending products are residential mortgage, commercial and installment loans.

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