Civista Bancshares (NASDAQ:CIVB) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Civista Bancshares (NASDAQ:CIVB) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts also recently weighed in on CIVB. Hovde Group boosted their price objective on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Civista Bancshares from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. DA Davidson reaffirmed a “buy” rating and set a $28.00 price objective on shares of Civista Bancshares in a research report on Friday, January 30th. Zacks Research raised shares of Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Finally, Piper Sandler boosted their price objective on shares of Civista Bancshares from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Civista Bancshares currently has an average rating of “Moderate Buy” and an average price target of $26.60.

Civista Bancshares Stock Performance

Shares of Civista Bancshares stock opened at $24.22 on Friday. The firm has a market cap of $503.36 million, a PE ratio of 8.90 and a beta of 0.67. The firm’s 50-day simple moving average is $23.55 and its 200-day simple moving average is $23.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 0.93. Civista Bancshares has a 1 year low of $18.94 and a 1 year high of $28.31.

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

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th will be given a $0.18 dividend. The ex-dividend date is Tuesday, May 5th. This represents a $0.72 annualized dividend and a yield of 3.0%. Civista Bancshares’s dividend payout ratio is 26.47%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CIVB. NewEdge Advisors LLC grew its position in Civista Bancshares by 57.5% in 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 last quarter. Federated Hermes Inc. grew its position in Civista Bancshares by 306.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares during the last quarter. Osaic Holdings Inc. grew its position in 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 purchasing an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets grew its position in Civista Bancshares by 111.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after purchasing an additional 2,107 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Civista Bancshares by 784.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock worth $111,000 after purchasing an additional 4,253 shares during the last quarter. Institutional investors own 52.10% of the company’s stock.

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.