Civista Bancshares (NASDAQ:CIVB) Downgraded to “Hold” Rating by Wall Street Zen

Civista Bancshares (NASDAQ:CIVB) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently issued reports on CIVB. Zacks Research raised Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Piper Sandler increased their price target on Civista Bancshares from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Civista Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.60.

Civista Bancshares Stock Up 1.3%

Shares of CIVB opened at $26.41 on Friday. Civista Bancshares has a 52-week low of $18.94 and a 52-week high of $28.31. The company has a market capitalization of $548.80 million, a PE ratio of 9.71 and a beta of 0.67. The stock has a fifty day simple moving average of $24.53 and a two-hundred day simple moving average of $23.62. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%.The business had revenue of $47.25 million during the quarter, compared to the consensus estimate of $45.64 million. As a group, equities analysts forecast that Civista Bancshares will post 2.84 EPS for the current year.

Hedge Funds Weigh In On Civista Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in Civista Bancshares by 57.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after purchasing an additional 481 shares during the period. Federated Hermes Inc. raised its holdings 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 in the last quarter. Osaic Holdings Inc. raised its holdings in Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after acquiring an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Civista Bancshares by 111.4% in the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock valued at $81,000 after acquiring an additional 2,107 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Civista Bancshares by 784.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock valued at $111,000 after acquiring an additional 4,253 shares in the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

About Civista Bancshares

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.