Civista Bancshares (NASDAQ:CIVB) Price Target Cut to $25.00 by Analysts at Piper Sandler

Civista Bancshares (NASDAQ:CIVB) had its price target reduced by Piper Sandler from $26.00 to $25.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target indicates a potential upside of 10.32% from the stock’s previous close.

CIVB has been the topic of several other research reports. Zacks Research upgraded shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Hovde Group boosted their price objective on shares of Civista Bancshares from $23.00 to $26.00 and gave the stock a “market perform” rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods increased their price objective on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Civista Bancshares in a research note on Monday, December 29th. Finally, DA Davidson restated a “buy” rating and set a $28.00 target price on shares of Civista Bancshares in a report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Civista Bancshares presently has a consensus rating of “Hold” and an average target price of $26.20.

Civista Bancshares Trading Down 1.7%

CIVB stock traded down $0.39 during midday trading on Thursday, hitting $22.66. The stock had a trading volume of 4,725 shares, compared to its average volume of 91,389. The firm has a market cap of $469.99 million, a PE ratio of 8.52 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. Civista Bancshares has a 12-month low of $17.47 and a 12-month high of $25.59. The company’s 50-day moving average price is $23.35 and its 200 day moving average price is $22.47.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. Civista Bancshares had a net margin of 18.12% and a return on equity of 10.48%. The company had revenue of $46.34 million during the quarter, compared to the consensus estimate of $45.43 million. On average, equities research analysts predict that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its holdings in shares of Civista Bancshares by 57.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after acquiring an additional 481 shares during the last quarter. Federated Hermes Inc. lifted its stake in Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares during the last quarter. Caldwell Trust Co bought a new position in Civista Bancshares during the second quarter worth $32,000. Osaic Holdings Inc. raised its stake in Civista Bancshares by 628.2% during the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after acquiring an additional 2,783 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Civista Bancshares by 111.4% in the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after acquiring an additional 2,107 shares during the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.