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

Zacks Investment Research downgraded shares of Civista Bancshares (NASDAQ:CIVB) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Civista Bancshares, Inc. is a bank holding company. The Company is involved in the business of community banking, through its subsidiaries. It operates primarily in Ohio. Civista Bancshares, Inc., formerly known as First Citizens Banc Corp, is based in SANDUSKY, United States. “

Other research analysts also recently issued research reports about the company. ValuEngine downgraded Civista Bancshares from a hold rating to a sell rating in a research note on Thursday, April 2nd. DA Davidson began coverage on Civista Bancshares in a research note on Thursday, April 9th. They set a neutral rating and a $14.00 price target for the company. TheStreet downgraded Civista Bancshares from a b- rating to a c rating in a research note on Monday, April 13th. Stephens began coverage on Civista Bancshares in a research note on Tuesday, July 7th. They set an overweight rating and a $19.00 price target for the company. Finally, BidaskClub upgraded Civista Bancshares from a strong sell rating to a sell rating in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $18.75.

Shares of Civista Bancshares stock opened at $13.13 on Wednesday. Civista Bancshares has a 1 year low of $11.62 and a 1 year high of $24.32. The firm has a market cap of $210.61 million, a PE ratio of 7.25 and a beta of 0.97. The stock has a fifty day moving average price of $14.49 and a 200-day moving average price of $16.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Friday, July 24th. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.11. The firm had revenue of $28.93 million during the quarter, compared to analyst estimates of $27.55 million. Civista Bancshares had a return on equity of 9.16% and a net margin of 24.31%. As a group, equities analysts anticipate that Civista Bancshares will post 1.69 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Monarch Partners Asset Management LLC boosted its stake in Civista Bancshares by 16.6% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 54,542 shares of the bank’s stock worth $840,000 after purchasing an additional 7,785 shares during the period. Strs Ohio boosted its stake in Civista Bancshares by 9.1% in the 2nd quarter. Strs Ohio now owns 30,100 shares of the bank’s stock worth $463,000 after purchasing an additional 2,500 shares during the period. Assenagon Asset Management S.A. bought a new position in Civista Bancshares in the 2nd quarter worth about $763,000. SG Americas Securities LLC bought a new stake in shares of Civista Bancshares during the 2nd quarter valued at about $132,000. Finally, Seidman Lawrence B bought a new stake in shares of Civista Bancshares during the 1st quarter valued at about $194,000. Institutional investors and hedge funds own 53.51% of the company’s stock.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.

Further Reading: Straddles

Get a free copy of the Zacks research report on Civista Bancshares (CIVB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Civista Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Civista Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.