Piper Sandler Issues Pessimistic Forecast for Civista Bancshares (NASDAQ:CIVB) Stock Price

Civista Bancshares (NASDAQ:CIVB) had its price objective cut by equities researchers at Piper Sandler from $26.00 to $25.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price suggests a potential upside of 10.32% from the company’s previous close.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their price target on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. DA Davidson reiterated 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 raised Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Civista Bancshares in a report on Monday, December 29th. Finally, Hovde Group upped their target price 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. 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.com, Civista Bancshares currently has an average rating of “Hold” and a consensus target price of $26.20.

Civista Bancshares Stock Performance

CIVB traded down $0.39 during trading on Thursday, reaching $22.66. 4,725 shares of the company were exchanged, compared to its average volume of 91,389. Civista Bancshares has a 52 week low of $17.47 and a 52 week high of $25.59. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $23.35 and a 200 day moving average of $22.47. The stock has a market cap of $469.99 million, a P/E ratio of 8.52 and a beta of 0.64.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. The company had revenue of $46.34 million for the quarter, compared to analysts’ expectations of $45.43 million. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%. On average, sell-side analysts forecast that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Institutional Trading of Civista Bancshares

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC grew its position in shares of Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after purchasing an additional 481 shares during the last quarter. Federated Hermes Inc. lifted its position 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 purchasing an additional 1,015 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of Civista Bancshares during the 2nd quarter worth about $32,000. Osaic Holdings Inc. boosted its stake 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 boosted its stake in Civista Bancshares by 111.4% during 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. Hedge funds and other institutional investors own 52.10% of the company’s stock.

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.