Civista Bancshares (NASDAQ:CIVB) Rating Lowered to “Hold” at Zacks Research

Civista Bancshares (NASDAQ:CIVB) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Piper Sandler boosted their price objective on Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Civista Bancshares presently has an average rating of “Hold” and an average target price of $27.20.

Civista Bancshares Trading Down 0.7%

CIVB stock opened at $28.22 on Monday. Civista Bancshares has a one year low of $18.94 and a one year high of $28.86. The stock has a market cap of $586.41 million, a price-to-earnings ratio of 10.37 and a beta of 0.67. The company has a fifty day moving average price of $25.82 and a two-hundred day moving average price of $24.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.18. The company had revenue of $47.25 million for the quarter, compared to analyst estimates of $45.64 million. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. Equities analysts anticipate that Civista Bancshares will post 2.84 EPS for the current year.

Hedge Funds Weigh In On Civista Bancshares

Several institutional investors and hedge funds have recently modified their holdings of CIVB. NewEdge Advisors LLC raised its stake in Civista Bancshares by 57.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after purchasing an additional 481 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Civista Bancshares by 5.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock worth $179,000 after purchasing an additional 485 shares in the last quarter. Barclays PLC increased its holdings in shares of Civista Bancshares by 0.9% during the third quarter. Barclays PLC now owns 54,603 shares of the bank’s stock worth $1,109,000 after purchasing an additional 498 shares during the period. CWM LLC increased its holdings in shares of Civista Bancshares by 12.1% during the fourth quarter. CWM LLC now owns 8,249 shares of the bank’s stock worth $183,000 after purchasing an additional 893 shares during the period. Finally, Vista Investment Management raised its position in shares of Civista Bancshares by 5.3% in the fourth quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock valued at $404,000 after buying an additional 915 shares in the last quarter. 52.10% of the stock is currently owned by institutional investors and hedge funds.

About Civista Bancshares

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.