Civista Bancshares (NASDAQ:CIVB) Price Target Raised to $33.00 at DA Davidson

Civista Bancshares (NASDAQ:CIVB) had its target price upped by equities researchers at DA Davidson from $31.00 to $33.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. DA Davidson’s target price indicates a potential upside of 15.33% from the stock’s previous close.

A number of other equities analysts also recently issued reports on CIVB. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $31.00 price target (up from $29.00) on shares of Civista Bancshares in a research note on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Piper Sandler reiterated a “neutral” rating and issued a $31.00 price objective on shares of Civista Bancshares in a research note on Monday. Zacks Research lowered Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Wall Street Zen downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.00.

Civista Bancshares Trading Up 0.1%

NASDAQ CIVB traded up $0.03 on Monday, reaching $28.61. The company had a trading volume of 10,435 shares, compared to its average volume of 101,700. Civista Bancshares has a fifty-two week low of $18.94 and a fifty-two week high of $29.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $594.60 million, a price-to-earnings ratio of 10.57 and a beta of 0.67. The business has a 50 day moving average of $27.09 and a two-hundred day moving average of $24.80.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Thursday, July 23rd. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The business had revenue of $47.60 million for the quarter, compared to analyst estimates of $48.08 million. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.82%. Analysts forecast that Civista Bancshares will post 2.82 EPS for the current year.

Institutional Trading of Civista Bancshares

Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew its position 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. boosted its stake in Civista Bancshares by 306.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,015 shares during the last quarter. Osaic Holdings Inc. raised its position in 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 buying an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Civista Bancshares by 111.4% during the third 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 last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Civista Bancshares by 784.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock valued at $111,000 after buying an additional 4,253 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.