Civista Bancshares’ (CIVB) “Buy” Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Civista Bancshares (NASDAQ:CIVB) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $26.00 price target on the bank’s stock.

CIVB has been the subject of several other research reports. 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 report on Monday, August 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Civista Bancshares in a research report on Wednesday, October 8th. Stephens decreased their price target on Civista Bancshares from $27.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 29th. Zacks Research upgraded Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on Civista Bancshares from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.60.

Civista Bancshares Stock Performance

Civista Bancshares stock opened at $22.46 on Friday. The stock has a 50-day simple moving average of $21.13 and a 200 day simple moving average of $21.54. The stock has a market capitalization of $433.77 million, a price-to-earnings ratio of 8.38 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.35. Civista Bancshares has a 12-month low of $17.47 and a 12-month high of $25.59.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Wednesday, November 5th. The bank reported $0.71 earnings per share for the quarter. Civista Bancshares had a net margin of 17.42% and a return on equity of 10.86%. The firm had revenue of $44.18 million during the quarter. On average, research analysts anticipate that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Tuesday, November 4th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, November 4th. Civista Bancshares’s dividend payout ratio (DPR) is currently 25.37%.

Institutional Investors Weigh In On Civista Bancshares

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Civista Bancshares by 1,092.1% during the third quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank’s stock worth $29,938,000 after purchasing an additional 1,350,409 shares in the last quarter. Endeavour Capital Advisors Inc. acquired a new stake in Civista Bancshares during the 3rd quarter worth $11,134,000. Alliancebernstein L.P. raised its stake in Civista Bancshares by 2,904.8% during the 3rd quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank’s stock worth $7,220,000 after buying an additional 343,642 shares during the period. Royce & Associates LP bought a new position in Civista Bancshares during the third quarter worth about $5,584,000. Finally, Ritholtz Wealth Management grew its stake in Civista Bancshares by 377.8% in the second quarter. Ritholtz Wealth Management now owns 221,966 shares of the bank’s stock valued at $5,150,000 after acquiring an additional 175,514 shares during the period. Institutional investors own 52.10% of the company’s stock.

About Civista Bancshares

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.