Civista Bancshares (NASDAQ:CIVB) Stock Rating Upgraded by Hovde Group

Civista Bancshares (NASDAQ:CIVB) was upgraded by analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm currently has a $22.00 target price on the bank’s stock. Hovde Group’s price objective indicates a potential upside of 8.00% from the company’s current price.

A number of other analysts have also issued reports on the stock. Piper Sandler boosted their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $19.00 price objective (up from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Civista Bancshares Stock Up 0.6 %

Shares of CIVB opened at $20.37 on Wednesday. The firm has a market cap of $320.56 million, a P/E ratio of 10.13 and a beta of 0.80. Civista Bancshares has a 12-month low of $13.60 and a 12-month high of $20.93. The company’s 50-day moving average price is $17.62 and its 200 day moving average price is $16.08. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.64.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. The firm had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.24%. During the same period in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts forecast that Civista Bancshares will post 1.76 earnings per share for the current year.

Insider Activity at Civista Bancshares

In other Civista Bancshares news, Director Julie A. Mattlin purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $15.60 per share, with a total value of $31,200.00. Following the completion of the acquisition, the director now directly owns 12,442 shares of the company’s stock, valued at $194,095.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Civista Bancshares

Large investors have recently modified their holdings of the company. Empowered Funds LLC boosted its holdings in shares of Civista Bancshares by 8.1% in the first quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock valued at $679,000 after acquiring an additional 3,325 shares during the period. Vanguard Group Inc. raised its stake in shares of Civista Bancshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock worth $12,501,000 after purchasing an additional 8,797 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Civista Bancshares by 30.9% during the second quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock worth $318,000 after purchasing an additional 4,985 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Civista Bancshares during the third quarter worth approximately $926,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Civista Bancshares by 53.3% during the first quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank’s stock worth $440,000 after purchasing an additional 9,953 shares during the last quarter. 52.10% of the stock is owned by institutional investors and hedge funds.

About Civista Bancshares

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.