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

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

CIVB has been the topic of several other reports. Wall Street Zen lowered shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Piper Sandler upped their price target on shares of Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Civista Bancshares presently has an average rating of “Hold” and a consensus target price of $27.20.

Civista Bancshares Stock Performance

CIVB opened at $28.22 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. Civista Bancshares has a 52-week low of $18.94 and a 52-week high of $28.86. The firm has a market cap of $586.41 million, a P/E ratio of 10.37 and a beta of 0.67. The business’s fifty day moving average is $25.82 and its 200-day moving average is $24.17.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%.The business had revenue of $47.25 million during the quarter, compared to the consensus estimate of $45.64 million. Sell-side analysts expect that Civista Bancshares will post 2.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Civista Bancshares

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Civista Bancshares by 1,092.1% during the third quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock valued at $29,938,000 after purchasing an additional 1,350,409 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Civista Bancshares by 19.4% in the third quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank’s stock valued at $20,752,000 after buying an additional 166,049 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Civista Bancshares by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank’s stock valued at $21,658,000 after buying an additional 40,176 shares during the period. Geode Capital Management LLC raised its holdings in Civista Bancshares by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 462,583 shares of the bank’s stock valued at $10,281,000 after buying an additional 32,146 shares during the last quarter. Finally, State Street Corp raised its holdings in Civista Bancshares by 6.7% in the 4th quarter. State Street Corp now owns 411,500 shares of the bank’s stock valued at $9,144,000 after buying an additional 25,672 shares during the last quarter. 52.10% of the stock is currently 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.