Civista Bancshares (NASDAQ:CIVB) PT Set at $26.00 by DA Davidson

Civista Bancshares (NASDAQ:CIVB) has been given a $26.00 price objective by investment analysts at DA Davidson in a report issued on Monday, MarketBeat reports. The brokerage currently has a “buy” rating on the bank’s stock. DA Davidson’s price objective suggests a potential upside of 21.55% from the stock’s previous close.

A number of other research firms also recently issued reports on CIVB. Keefe, Bruyette & Woods boosted their price target on Civista Bancshares from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Wall Street Zen lowered Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. Piper Sandler upped their target price on Civista Bancshares from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Finally, Stephens increased their price objective on Civista Bancshares from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Civista Bancshares has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Civista Bancshares Price Performance

NASDAQ:CIVB opened at $21.39 on Monday. The firm has a market cap of $331.97 million, a P/E ratio of 9.42 and a beta of 0.69. The stock has a 50 day moving average of $22.87 and a two-hundred day moving average of $21.28. Civista Bancshares has a 12 month low of $14.90 and a 12 month high of $25.59. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.19.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. Civista Bancshares had a return on equity of 9.13% and a net margin of 14.35%. The firm had revenue of $40.63 million for the quarter, compared to analysts’ expectations of $40.33 million. On average, analysts expect that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Dennis E. Murray, Jr. purchased 6,143 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were purchased at an average cost of $22.44 per share, with a total value of $137,848.92. Following the purchase, the chairman owned 19,162 shares of the company’s stock, valued at $429,995.28. This represents a 47.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Darci L. Congrove acquired 1,250 shares of the business’s stock in a transaction on Friday, July 11th. The stock was acquired 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. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 17,385 shares of company stock valued at $376,741. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Civista Bancshares

Several institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its holdings in Civista Bancshares by 210.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank’s stock worth $3,152,000 after buying an additional 101,610 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Civista Bancshares during the 4th quarter valued at $1,774,000. Nuveen LLC bought a new position in Civista Bancshares during the 1st quarter valued at $1,594,000. American Century Companies Inc. lifted its position in shares of Civista Bancshares by 55.0% in the 4th quarter. American Century Companies Inc. now owns 191,316 shares of the bank’s stock worth $4,025,000 after buying an additional 67,889 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Civista Bancshares by 166.8% in the 4th quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank’s stock worth $1,950,000 after buying an additional 57,950 shares during the last quarter. 52.10% of the stock is owned by hedge funds and other 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.