StockNews.com upgraded shares of Civista Bancshares (NASDAQ:CIVB - Free Report) from a hold rating to a buy rating in a report issued on Thursday morning.
Other analysts have also recently issued reports about the company. 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 research report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their target price on shares of Civista Bancshares from $22.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, Stephens reissued an "equal weight" rating and set a $24.00 price target on shares of Civista Bancshares in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.50.
Check Out Our Latest Report on Civista Bancshares
Civista Bancshares Price Performance
Shares of NASDAQ:CIVB traded up $0.30 during midday trading on Thursday, reaching $21.76. 54,770 shares of the company's stock were exchanged, compared to its average volume of 52,920. The firm has a market capitalization of $342.50 million, a PE ratio of 10.77 and a beta of 0.81. The company's 50 day simple moving average is $21.31 and its two-hundred day simple moving average is $19.47. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $23.69. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95.
Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.10. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. Equities research analysts expect that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.
Civista Bancshares Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, February 4th. This is a positive change from Civista Bancshares's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.13%. Civista Bancshares's dividend payout ratio (DPR) is 33.66%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC increased its position in Civista Bancshares by 1.1% in the 4th quarter. Inspire Investing LLC now owns 52,528 shares of the bank's stock valued at $1,105,000 after acquiring an additional 554 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Civista Bancshares by 4.4% during the third quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank's stock valued at $248,000 after purchasing an additional 589 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of 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 raised its position in Civista Bancshares by 8.6% in the 4th quarter. Park National Corp OH now owns 25,275 shares of the bank's stock worth $532,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Civista Bancshares by 5.0% during the 4th quarter. Empowered Funds LLC now owns 52,617 shares of the bank's stock worth $1,107,000 after buying an additional 2,482 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company's stock.
Civista Bancshares Company Profile
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Get Free Report)
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.
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