Civista Bancshares (NASDAQ:CIVB) Coverage Initiated at Piper Sandler

Investment analysts at Piper Sandler assumed coverage on shares of Civista Bancshares (NASDAQ:CIVB) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $25.00 price target on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 8.70% from the company’s previous close.

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

Civista Bancshares Price Performance

Shares of NASDAQ:CIVB opened at $23.00 on Thursday. The stock has a market cap of $477.02 million, a PE ratio of 8.65 and a beta of 0.64. The company’s fifty day moving average is $23.34 and its 200 day moving average is $22.49. Civista Bancshares has a 52 week low of $17.47 and a 52 week high of $25.59. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52.

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

Hedge Funds Weigh In On Civista Bancshares

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its position in Civista Bancshares by 57.5% during 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 in the last quarter. Federated Hermes Inc. grew its holdings in shares of Civista Bancshares by 306.6% during the 2nd 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 shares of Civista Bancshares in the 2nd quarter worth approximately $32,000. Osaic Holdings Inc. raised its position in shares of Civista Bancshares by 628.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after acquiring an additional 2,783 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake 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 during the period. 52.10% of the stock is owned by institutional investors.

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.