Zacks Research Upgrades Civista Bancshares (NASDAQ:CIVB) to “Hold”

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

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

Civista Bancshares Price Performance

Shares of Civista Bancshares stock opened at $24.15 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $23.40 and a 200-day simple moving average of $21.94. The stock has a market capitalization of $466.41 million, a price-to-earnings ratio of 9.08 and a beta of 0.70. Civista Bancshares has a 1-year low of $17.47 and a 1-year high of $25.59.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. Civista Bancshares had a net margin of 18.12% and a return on equity of 11.14%. The firm had revenue of $46.34 million for the quarter, compared to the consensus estimate of $45.43 million. On average, sell-side analysts expect that Civista Bancshares will post 2.28 earnings per share for the current year.

Institutional Investors Weigh In On Civista Bancshares

Several large investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Civista Bancshares by 28.0% during the 1st quarter. AQR Capital Management LLC now owns 35,012 shares of the bank’s stock worth $684,000 after purchasing an additional 7,652 shares in the last quarter. Empowered Funds LLC grew its stake in Civista Bancshares by 22.7% during the first quarter. Empowered Funds LLC now owns 64,535 shares of the bank’s stock worth $1,261,000 after buying an additional 11,918 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Civista Bancshares during the first quarter worth approximately $453,000. Acadian Asset Management LLC raised its stake in shares of Civista Bancshares by 15.1% in the first quarter. Acadian Asset Management LLC now owns 33,814 shares of the bank’s stock valued at $659,000 after acquiring an additional 4,426 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Civista Bancshares by 23.8% in the second quarter. CWM LLC now owns 3,819 shares of the bank’s stock valued at $89,000 after acquiring an additional 735 shares during the last quarter. 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.