Civista Bancshares, Inc. (CIVB) Rating Reiterated by Sandler O’Neill
Civista Bancshares, Inc. (NASDAQ:CIVB)‘s stock had its “buy” rating reaffirmed by analysts at Sandler O’Neill in a research report issued on Friday. They currently have a $25.00 target price on the bank’s stock, up from their previous target price of $23.50. Sandler O’Neill’s price objective would indicate a potential upside of 11.66% from the stock’s current price.
A number of other brokerages also recently commented on CIVB. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $24.00 price objective on shares of Civista Bancshares in a research report on Wednesday. Zacks Investment Research upgraded Civista Bancshares from a “sell” rating to a “hold” rating in a research report on Monday. DA Davidson reiterated a “neutral” rating and issued a $24.50 price objective on shares of Civista Bancshares in a research report on Tuesday, July 4th. Finally, Boenning Scattergood set a $24.00 price objective on Civista Bancshares and gave the stock a “buy” rating in a research report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.65.
Shares of Civista Bancshares (CIVB) traded up 1.88% during midday trading on Friday, hitting $22.77. The stock had a trading volume of 15,454 shares. Civista Bancshares has a 12-month low of $14.15 and a 12-month high of $23.75. The firm has a market cap of $231.57 million, a PE ratio of 16.90 and a beta of 0.51. The firm has a 50-day moving average of $20.78 and a 200 day moving average of $20.90.
Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.04). Civista Bancshares had a return on equity of 11.19% and a net margin of 21.97%. The firm had revenue of $17.47 million during the quarter, compared to the consensus estimate of $17.70 million. On average, analysts expect that Civista Bancshares will post $1.27 earnings per share for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of the company. OxFORD Asset Management LLP raised its holdings in shares of Civista Bancshares by 16.5% in the 2nd quarter. OxFORD Asset Management LLP now owns 27,684 shares of the bank’s stock worth $578,000 after buying an additional 3,915 shares in the last quarter. AXA raised its holdings in shares of Civista Bancshares by 19.9% in the 1st quarter. AXA now owns 30,094 shares of the bank’s stock worth $667,000 after buying an additional 4,994 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of Civista Bancshares in the 1st quarter worth approximately $110,000. Nationwide Fund Advisors raised its holdings in shares of Civista Bancshares by 15.7% in the 2nd quarter. Nationwide Fund Advisors now owns 39,665 shares of the bank’s stock worth $828,000 after buying an additional 5,394 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Civista Bancshares in the 2nd quarter worth approximately $124,000. 42.33% of the stock is owned by institutional investors and hedge funds.
About Civista Bancshares
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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