Civista Bancshares (NASDAQ:CIVB) Price Target Raised to $28.00 at Keefe, Bruyette & Woods

Civista Bancshares (NASDAQ:CIVB - Free Report) had its target price hoisted by Keefe, Bruyette & Woods from $25.00 to $28.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the bank's stock.

Other analysts have also issued reports about the stock. DA Davidson set a $27.00 target price on shares of Civista Bancshares in a research report on Friday, January 31st. StockNews.com upgraded shares of Civista Bancshares from a "hold" rating to a "buy" rating in a research report on Saturday, February 22nd. Finally, Stephens reiterated an "equal weight" rating and issued a $24.00 price target on shares of Civista Bancshares in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Civista Bancshares currently has an average rating of "Moderate Buy" and a consensus target price of $25.20.

Civista Bancshares Stock Performance

NASDAQ CIVB traded up $1.21 during trading hours on Friday, hitting $22.27. 91,869 shares of the company's stock traded hands, compared to its average volume of 48,289. The business's fifty day moving average price is $19.81 and its two-hundred day moving average price is $20.67. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $344.72 million, a P/E ratio of 11.02 and a beta of 0.67. Civista Bancshares has a 52 week low of $13.60 and a 52 week high of $23.70.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.16. The company had revenue of $40.63 million during the quarter, compared to analyst estimates of $40.33 million. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. Equities research analysts predict that Civista Bancshares will post 2.28 EPS for the current year.

Civista Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, April 29th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Tuesday, April 29th. Civista Bancshares's dividend payout ratio (DPR) is presently 29.96%.

Hedge Funds Weigh In On Civista Bancshares

Several hedge funds have recently modified their holdings of the stock. Inspire Investing LLC lifted its holdings in shares of Civista Bancshares by 1.1% in the fourth quarter. Inspire Investing LLC now owns 52,528 shares of the bank's stock worth $1,105,000 after buying an additional 554 shares in the last quarter. SG Americas Securities LLC lifted its position in Civista Bancshares by 15.6% during 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 during the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Civista Bancshares by 12.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 11,773 shares of the bank's stock worth $248,000 after buying an additional 1,337 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Civista Bancshares by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank's stock worth $189,000 after buying an additional 1,960 shares during the last quarter. Finally, Park National Corp OH lifted its holdings in shares of Civista Bancshares by 8.6% in the 4th quarter. Park National Corp OH now owns 25,275 shares of the bank's stock valued at $532,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors 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.