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

Zacks Research downgraded shares of Civista Bancshares (NASDAQ:CIVB) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Piper Sandler boosted their price target on Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.20.

Civista Bancshares Price Performance

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

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. The firm had revenue of $47.25 million during the quarter, compared to the consensus estimate of $45.64 million. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%. As a group, analysts predict that Civista Bancshares will post 2.84 EPS for the current year.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio (DPR) is currently 26.47%.

Institutional Trading of Civista Bancshares

Several institutional investors and hedge funds 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 acquiring an additional 481 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Civista Bancshares by 5.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock valued at $179,000 after purchasing an additional 485 shares during the last quarter. Barclays PLC raised its holdings in shares of Civista Bancshares by 0.9% during the third quarter. Barclays PLC now owns 54,603 shares of the bank’s stock worth $1,109,000 after purchasing an additional 498 shares during the period. CWM LLC raised its holdings in shares of Civista Bancshares by 12.1% during the fourth quarter. CWM LLC now owns 8,249 shares of the bank’s stock worth $183,000 after purchasing an additional 893 shares during the period. Finally, Vista Investment Management lifted its position in shares of Civista Bancshares by 5.3% in the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock worth $404,000 after buying an additional 915 shares during the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

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.