Civista Bancshares Inc (CIVB) Given Average Recommendation of “Buy” by Brokerages

Civista Bancshares Inc (NASDAQ:CIVB) has been assigned an average recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $24.75.

A number of research analysts recently weighed in on CIVB shares. ValuEngine lowered Civista Bancshares from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 30th. Sandler O’Neill reissued a “buy” rating and set a $25.00 target price (up from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Civista Bancshares in a report on Wednesday, October 4th. Finally, Zacks Investment Research raised Civista Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 21st.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Civista Bancshares by 33.0% in the 2nd quarter. Vanguard Group Inc. now owns 379,286 shares of the bank’s stock valued at $7,920,000 after buying an additional 94,047 shares in the last quarter. Castine Capital Management LLC grew its holdings in Civista Bancshares by 45.8% in the 3rd quarter. Castine Capital Management LLC now owns 334,843 shares of the bank’s stock valued at $7,480,000 after buying an additional 105,228 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Civista Bancshares by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 212,328 shares of the bank’s stock valued at $4,434,000 after buying an additional 15,690 shares in the last quarter. Kennedy Capital Management Inc. grew its holdings in Civista Bancshares by 30.6% in the 2nd quarter. Kennedy Capital Management Inc. now owns 118,160 shares of the bank’s stock valued at $2,467,000 after buying an additional 27,716 shares in the last quarter. Finally, State Street Corp acquired a new position in Civista Bancshares in the 2nd quarter valued at $2,174,000. 43.92% of the stock is currently owned by hedge funds and other institutional investors.

Civista Bancshares (NASDAQ CIVB) traded down $0.07 during mid-day trading on Monday, hitting $22.00. The company had a trading volume of 38,550 shares, compared to its average volume of 33,759. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $224.47, a price-to-earnings ratio of 16.79, a PEG ratio of 2.24 and a beta of 0.55. Civista Bancshares has a 1-year low of $18.59 and a 1-year high of $23.76.

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

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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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