Civista Bancshares, Inc. (CIVB) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Civista Bancshares, Inc. (NASDAQ:CIVB) from a sell rating to a hold rating in a research note published on Monday morning.
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. “
A number of other brokerages also recently commented on CIVB. DA Davidson restated a neutral rating and issued a $24.50 target price on shares of Civista Bancshares in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods restated a buy rating and issued a $24.00 target price on shares of Civista Bancshares in a research note on Sunday, July 30th. Finally, Boenning Scattergood set a $24.00 target price on Civista Bancshares and gave the company a buy rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $22.06.
Civista Bancshares (NASDAQ:CIVB) opened at 22.64 on Monday. Civista Bancshares has a 1-year low of $14.09 and a 1-year high of $23.75. The firm has a market capitalization of $230.25 million, a price-to-earnings ratio of 16.81 and a beta of 0.51. The stock has a 50 day moving average price of $20.70 and a 200 day moving average price of $20.89.
Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Friday, July 28th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Civista Bancshares had a net margin of 21.97% and a return on equity of 11.19%. The firm had revenue of $17.47 million during the quarter, compared to analysts’ expectations of $17.70 million. Analysts predict that Civista Bancshares will post $1.27 EPS for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Partners Fund LP bought a new stake in shares of Civista Bancshares during the 1st quarter worth about $110,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Civista Bancshares during the 2nd quarter worth about $124,000. JPMorgan Chase & Co. boosted its stake in shares of Civista Bancshares by 272.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,997 shares of the bank’s stock worth $209,000 after acquiring an additional 7,315 shares in the last quarter. Keybank National Association OH bought a new stake in shares of Civista Bancshares during the 1st quarter worth about $211,000. Finally, Rhumbline Advisers bought a new stake in shares of Civista Bancshares during the 2nd quarter worth about $216,000. Institutional investors own 42.33% of the company’s stock.
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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