Civista Bancshares (NASDAQ:CIVB) Upgraded at Zacks Research

Zacks Research upgraded shares of Civista Bancshares (NASDAQ:CIVB) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other brokerages have also recently weighed in on CIVB. Hovde Group cut shares of Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $22.00 price objective on the stock. in a research note on Monday, August 18th. Wall Street Zen downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. Stephens decreased their price target on Civista Bancshares from $27.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 29th. Finally, DA Davidson set a $26.00 price objective on Civista Bancshares and gave the company a “buy” rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $24.80.

Civista Bancshares Stock Performance

Civista Bancshares stock opened at $20.31 on Monday. The firm has a market capitalization of $392.19 million, a P/E ratio of 8.03 and a beta of 0.76. The stock has a fifty day moving average price of $20.46 and a two-hundred day moving average price of $21.24. Civista Bancshares has a 52-week low of $17.00 and a 52-week high of $25.59. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.99 and a quick ratio of 0.99.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Thursday, July 24th. The bank reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.03). The firm had revenue of $41.40 million during the quarter, compared to the consensus estimate of $43.07 million. Civista Bancshares had a return on equity of 9.77% and a net margin of 15.83%. As a group, analysts anticipate that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.3%. Civista Bancshares’s dividend payout ratio (DPR) is currently 26.88%.

Insider Activity at Civista Bancshares

In other news, Director Darci L. Congrove acquired 1,250 shares of Civista Bancshares stock in a transaction on Friday, July 11th. The shares were purchased at an average price of $21.25 per share, with a total value of $26,562.50. Following the acquisition, the director owned 1,250 shares in the company, valued at $26,562.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Clyde A. Perfect, Jr. acquired 2,352 shares of the firm’s stock in a transaction on Friday, July 11th. The stock was purchased at an average price of $21.25 per share, for a total transaction of $49,980.00. Following the completion of the transaction, the director directly owned 2,352 shares in the company, valued at approximately $49,980. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 14,742 shares of company stock worth $307,978. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Civista Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in shares of Civista Bancshares by 306.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,015 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Civista Bancshares during the second quarter worth approximately $32,000. CWM LLC lifted its holdings in Civista Bancshares by 43.7% in the first quarter. CWM LLC now owns 3,084 shares of the bank’s stock valued at $60,000 after buying an additional 938 shares during the period. Osaic Holdings Inc. boosted its stake in Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after acquiring an additional 2,783 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Civista Bancshares by 4,003.0% in the first quarter. GAMMA Investing LLC now owns 4,103 shares of the bank’s stock valued at $80,000 after acquiring an additional 4,003 shares during the last quarter. 52.10% of the stock is owned by institutional investors.

Civista Bancshares Company Profile

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.