Civista Bancshares (NASDAQ:CIVB) Rating Increased to Hold at Zacks Research

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

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. Hovde Group cut shares of Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research note on Monday, August 18th. Stephens decreased their price objective on shares of Civista Bancshares from $27.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, July 29th. Finally, DA Davidson set a $26.00 target price on shares of Civista Bancshares and gave the company a “buy” rating in a research note on Monday, July 14th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.80.

Civista Bancshares Trading Down 0.1%

Civista Bancshares stock opened at $20.31 on Monday. Civista Bancshares has a one year low of $17.00 and a one year high of $25.59. The company’s fifty day moving average price is $20.46 and its two-hundred day moving average price is $21.24. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $392.19 million, a price-to-earnings ratio of 8.03 and a beta of 0.76.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). The company had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.07 million. Civista Bancshares had a return on equity of 9.77% and a net margin of 15.83%. On average, analysts forecast that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th were paid a $0.17 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.68 annualized dividend and a dividend yield of 3.3%. Civista Bancshares’s dividend payout ratio (DPR) is presently 26.88%.

Insider Activity at Civista Bancshares

In related news, SVP Richard J. Dutton bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The stock was purchased at an average cost of $21.25 per share, for a total transaction of $85,000.00. Following the purchase, the senior vice president directly owned 4,000 shares in the company, valued at $85,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nathan E. Weaks purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $19.88 per share, for a total transaction of $39,760.00. Following the completion of the transaction, the director directly owned 8,283 shares in the company, valued at approximately $164,666.04. The trade was a 31.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 14,742 shares of company stock worth $307,978. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Civista Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in Civista Bancshares by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 27,208 shares of the bank’s stock valued at $532,000 after buying an additional 497 shares during the period. CWM LLC boosted its position in shares of Civista Bancshares by 23.8% during the 2nd quarter. CWM LLC now owns 3,819 shares of the bank’s stock valued at $89,000 after acquiring an additional 735 shares in the last quarter. Park National Corp OH boosted its position in shares of Civista Bancshares by 3.5% during the 2nd quarter. Park National Corp OH now owns 24,091 shares of the bank’s stock valued at $559,000 after acquiring an additional 816 shares in the last quarter. Federated Hermes Inc. increased its stake in Civista Bancshares by 306.6% in the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,015 shares during the period. Finally, Caldwell Trust Co acquired a new position in Civista Bancshares in the second quarter worth about $32,000. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.