Civista Bancshares (CIVB) Stock Rating Upgraded by Zacks Investment Research

Civista Bancshares (NASDAQ:CIVB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

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. “

Several other research firms have also issued reports on CIVB. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $24.00 target price on shares of Civista Bancshares in a report on Wednesday, October 4th. ValuEngine lowered Civista Bancshares from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 30th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $25.00 target price (up from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $24.75.

Civista Bancshares (NASDAQ:CIVB) opened at $21.96 on Thursday. The stock has a market capitalization of $223.35, a P/E ratio of 17.43, a PEG ratio of 2.27 and a beta of 0.55. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52. Civista Bancshares has a twelve month low of $18.59 and a twelve month high of $23.76.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Friday, October 27th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $17.15 million during the quarter, compared to the consensus estimate of $17.60 million. Civista Bancshares had a net margin of 21.56% and a return on equity of 10.32%. analysts anticipate that Civista Bancshares will post 1.23 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Cornerstone Capital Management Holdings LLC. purchased a new position in Civista Bancshares in the second quarter valued at approximately $124,000. JPMorgan Chase & Co. lifted its stake in Civista Bancshares by 272.7% in the second quarter. JPMorgan Chase & Co. now owns 9,997 shares of the bank’s stock valued at $209,000 after purchasing an additional 7,315 shares during the last quarter. Keybank National Association OH purchased a new position in Civista Bancshares in the third quarter valued at approximately $213,000. Rhumbline Advisers purchased a new position in Civista Bancshares in the second quarter valued at approximately $216,000. Finally, New York State Common Retirement Fund purchased a new position in Civista Bancshares in the second quarter valued at approximately $221,000. Institutional investors and hedge funds own 43.92% of the company’s stock.

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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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