Keefe, Bruyette & Woods Upgrades Civista Bancshares Inc. (CIVB) to “Outperform”
Civista Bancshares Inc. (NASDAQ:CIVB) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday. The firm currently has a $18.00 price target on the stock. Keefe, Bruyette & Woods’ target price indicates a potential downside of 5.26% from the company’s current price.
A number of other equities analysts also recently commented on CIVB. Hovde Group boosted their target price on shares of Civista Bancshares from $15.25 to $15.75 and gave the stock a “market perform” rating in a research note on Monday, October 24th. Sandler O’Neill raised shares of Civista Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, October 24th.
Shares of Civista Bancshares (NASDAQ:CIVB) opened at 19.00 on Tuesday. The firm has a market capitalization of $156.54 million, a PE ratio of 12.39 and a beta of 0.46. Civista Bancshares has a 52-week low of $9.75 and a 52-week high of $15.72. The stock’s 50 day moving average price is $14.89 and its 200-day moving average price is $13.86.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.26%. Civista Bancshares’s dividend payout ratio (DPR) is presently 15.69%.
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Large investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of Civista Bancshares by 26.4% in the third quarter. Morgan Stanley now owns 23,510 shares of the company’s stock worth $333,000 after buying an additional 4,904 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Civista Bancshares by 108.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 74,889 shares of the company’s stock worth $1,062,000 after buying an additional 38,947 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Civista Bancshares by 4.5% in the third quarter. Wells Fargo & Company MN now owns 11,555 shares of the company’s stock worth $164,000 after buying an additional 500 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Civista Bancshares during the third quarter worth approximately $728,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Civista Bancshares by 1,768.6% in the third quarter. Acadian Asset Management LLC now owns 24,217 shares of the company’s stock worth $342,000 after buying an additional 22,921 shares during the last quarter. 14.94% of the stock is owned by hedge funds and other institutional investors.
Civista Bancshares Company Profile
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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