Civista Bancshares (NASDAQ:CIVB) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Civista Bancshares (NASDAQ:CIVBGet Rating) from a buy rating to a hold rating in a research report released on Tuesday morning.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Civista Bancshares from a hold rating to a buy rating and set a $27.00 price objective on the stock in a report on Tuesday, March 15th. DA Davidson reaffirmed a buy rating on shares of Civista Bancshares in a research note on Wednesday, January 12th.

Shares of CIVB stock opened at $20.85 on Tuesday. The business has a 50 day moving average of $23.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.91. Civista Bancshares has a one year low of $20.10 and a one year high of $25.94. The firm has a market cap of $311.06 million, a price-to-earnings ratio of 8.24 and a beta of 0.92.

Civista Bancshares (NASDAQ:CIVBGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.06). Civista Bancshares had a return on equity of 10.87% and a net margin of 29.29%. During the same quarter last year, the business earned $0.68 earnings per share. Analysts forecast that Civista Bancshares will post 2.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Tuesday, May 10th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, May 9th. Civista Bancshares’s payout ratio is currently 22.13%.

In related news, Director Allen R. Nickles sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $24.09, for a total transaction of $120,450.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have purchased 2,416 shares of company stock worth $55,314. 3.05% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Civista Bancshares in the 4th quarter valued at approximately $565,000. Dimensional Fund Advisors LP increased its position in shares of Civista Bancshares by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 566,547 shares of the bank’s stock valued at $13,161,000 after purchasing an additional 22,521 shares during the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Civista Bancshares by 71.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 4,004 shares of the bank’s stock valued at $93,000 after purchasing an additional 1,663 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Civista Bancshares by 1.2% in the 3rd quarter. Renaissance Technologies LLC now owns 171,965 shares of the bank’s stock valued at $3,995,000 after purchasing an additional 2,000 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Civista Bancshares by 77.0% in the 4th quarter. LSV Asset Management now owns 132,332 shares of the bank’s stock valued at $3,229,000 after purchasing an additional 57,581 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors.

About Civista Bancshares (Get Rating)

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. The company 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.

Further Reading

Receive News & Ratings for Civista Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Civista Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.