Civista Bancshares (NASDAQ:CIVB) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Civista Bancshares (NASDAQ:CIVB) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Several other brokerages have also weighed in on CIVB. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their price target on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. DA Davidson reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Civista Bancshares in a report on Friday, January 30th. Finally, Hovde Group boosted their target price on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.00.

Civista Bancshares Stock Performance

Shares of NASDAQ CIVB opened at $24.15 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average price is $23.40 and its two-hundred day moving average price is $21.94. Civista Bancshares has a 52-week low of $17.47 and a 52-week high of $25.59. The stock has a market capitalization of $466.41 million, a P/E ratio of 9.08 and a beta of 0.70.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.61 by $0.14. The company had revenue of $46.34 million during the quarter, compared to analyst estimates of $45.43 million. Civista Bancshares had a return on equity of 11.14% and a net margin of 18.12%. As a group, sell-side analysts forecast that Civista Bancshares will post 2.28 earnings per share for the current year.

Civista Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be given a $0.18 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $0.72 dividend on an annualized basis and a yield of 3.0%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. Civista Bancshares’s payout ratio is currently 27.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. raised its holdings in Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares in the last quarter. Caldwell Trust Co acquired a new position in shares of Civista Bancshares during the 2nd quarter valued at $32,000. Osaic Holdings Inc. raised its stake in shares of Civista Bancshares by 628.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after buying an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of 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 buying an additional 2,107 shares during the period. Finally, CWM LLC lifted its holdings in shares of Civista Bancshares by 23.8% in the second quarter. CWM LLC now owns 3,819 shares of the bank’s stock valued at $89,000 after buying an additional 735 shares during the period. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Company Profile

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.