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,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. DA Davidson restated a “buy” rating and issued a $28.00 target price on shares of Civista Bancshares in a report on Friday, January 30th. Keefe, Bruyette & Woods raised their price objective on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Hovde Group upped their target price on Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Civista Bancshares in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.00.

Civista Bancshares Price Performance

NASDAQ:CIVB opened at $23.92 on Monday. The firm has a market capitalization of $461.90 million, a price-to-earnings ratio of 8.99 and a beta of 0.70. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $23.39 and a 200-day simple moving average of $21.95. Civista Bancshares has a 1 year low of $17.47 and a 1 year high of $25.59.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.14. The firm had revenue of $46.34 million for the quarter, compared to the consensus estimate of $45.43 million. Civista Bancshares had a return on equity of 11.14% and a net margin of 18.12%. Equities analysts forecast that Civista Bancshares will post 2.28 EPS for the current year.

Civista Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.18 per share. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, February 10th. Civista Bancshares’s payout ratio is presently 27.07%.

Institutional Investors Weigh In On Civista Bancshares

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

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.