Civista Bancshares (NASDAQ:CIVB) Receives Equal Weight Rating from Stephens

Civista Bancshares (NASDAQ:CIVB)‘s stock had its “equal weight” rating reissued by stock analysts at Stephens in a report released on Friday,Benzinga reports. They currently have a $24.00 target price on the bank’s stock. Stephens’ price target suggests a potential upside of 7.20% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Civista Bancshares Price Performance

Shares of CIVB stock traded up $1.00 during trading hours on Friday, hitting $22.39. 28,846 shares of the company’s stock were exchanged, compared to its average volume of 45,997. The stock’s 50-day moving average is $21.49 and its 200-day moving average is $19.29. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $352.40 million, a price-to-earnings ratio of 11.19 and a beta of 0.82. Civista Bancshares has a 52 week low of $13.60 and a 52 week high of $23.69.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.10. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. As a group, research analysts forecast that Civista Bancshares will post 1.92 EPS for the current year.

Institutional Investors Weigh In On Civista Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC raised its position in Civista Bancshares by 5.0% in the 4th quarter. Empowered Funds LLC now owns 52,617 shares of the bank’s stock valued at $1,107,000 after buying an additional 2,482 shares during the last quarter. Inspire Investing LLC grew its stake in Civista Bancshares by 1.1% in the fourth quarter. Inspire Investing LLC now owns 52,528 shares of the bank’s stock valued at $1,105,000 after purchasing an additional 554 shares in the last quarter. SG Americas Securities LLC grew its stake in Civista Bancshares by 15.6% in the fourth quarter. SG Americas Securities LLC now owns 6,624 shares of the bank’s stock valued at $139,000 after purchasing an additional 892 shares in the last quarter. Park National Corp OH grew its stake in Civista Bancshares by 8.6% in the fourth quarter. Park National Corp OH now owns 25,275 shares of the bank’s stock valued at $532,000 after purchasing an additional 2,000 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Civista Bancshares by 90.1% in the third quarter. JPMorgan Chase & Co. now owns 25,438 shares of the bank’s stock valued at $453,000 after purchasing an additional 12,059 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

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.