Civista Bancshares’ (CIVB) “Outperform” Rating Reiterated at Keefe, Bruyette & Woods

Civista Bancshares (NASDAQ:CIVB)‘s stock had its “outperform” rating reaffirmed by Keefe, Bruyette & Woods in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $18.00 price target on the bank’s stock, down from their prior price target of $21.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 24.91% from the stock’s previous close.

Several other equities analysts have also recently commented on CIVB. TheStreet cut shares of Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Piper Sandler assumed coverage on shares of Civista Bancshares in a research report on Wednesday, February 21st. They set a “neutral” rating and a $18.00 price target for the company. Stephens lowered their price objective on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. Finally, Hovde Group started coverage on Civista Bancshares in a report on Monday, April 1st. They set a “market perform” rating and a $16.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.75.

Civista Bancshares Stock Performance

CIVB traded up $0.13 during trading hours on Wednesday, hitting $14.41. The stock had a trading volume of 4,451 shares, compared to its average volume of 28,043. Civista Bancshares has a 1 year low of $13.99 and a 1 year high of $19.80. The company’s fifty day simple moving average is $14.88 and its 200 day simple moving average is $15.90. The stock has a market cap of $226.09 million, a PE ratio of 5.22 and a beta of 0.78. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.22.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The business had revenue of $58.63 million during the quarter, compared to analysts’ expectations of $38.01 million. Civista Bancshares had a net margin of 19.85% and a return on equity of 12.26%. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities analysts anticipate that Civista Bancshares will post 2.05 earnings per share for the current year.

Insider Activity

In other Civista Bancshares news, SVP Michael D. Mulford purchased 2,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average cost of $15.82 per share, for a total transaction of $31,640.00. Following the completion of the transaction, the senior vice president now directly owns 2,000 shares in the company, valued at approximately $31,640. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.01% of the company’s stock.

Hedge Funds Weigh In On Civista Bancshares

A number of hedge funds have recently modified their holdings of CIVB. SG Americas Securities LLC grew its stake in shares of Civista Bancshares by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 8,458 shares of the bank’s stock worth $156,000 after purchasing an additional 1,736 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Civista Bancshares by 294.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock worth $38,000 after buying an additional 1,830 shares during the period. Barclays PLC grew its position in shares of Civista Bancshares by 8.8% in the 3rd quarter. Barclays PLC now owns 23,522 shares of the bank’s stock worth $363,000 after buying an additional 1,900 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Civista Bancshares by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 84,954 shares of the bank’s stock valued at $1,317,000 after buying an additional 3,178 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Civista Bancshares by 9.7% during the fourth quarter. Victory Capital Management Inc. now owns 47,700 shares of the bank’s stock valued at $880,000 after acquiring an additional 4,212 shares in the last quarter. Hedge funds and other institutional investors 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.