Civista Bancshares (NASDAQ:CIVB) Upgraded at Hovde Group

Civista Bancshares (NASDAQ:CIVB - Get Free Report) was upgraded by equities research analysts at Hovde Group from a "market perform" rating to an "outperform" rating in a report issued on Wednesday, MarketBeat reports. The firm presently has a $22.00 price objective on the bank's stock. Hovde Group's target price would indicate a potential upside of 11.34% from the stock's current price.

A number of other analysts have also recently commented on the stock. Piper Sandler increased their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $19.00 price target (up from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.75.

Civista Bancshares Stock Up 5.4 %

Shares of Civista Bancshares stock traded up $1.02 on Wednesday, hitting $19.76. The company had a trading volume of 46,585 shares, compared to its average volume of 38,524. Civista Bancshares has a twelve month low of $13.60 and a twelve month high of $20.17. The stock has a 50-day moving average of $17.47 and a 200-day moving average of $16.02. The firm has a market capitalization of $310.77 million, a P/E ratio of 8.58 and a beta of 0.80. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.01 and a quick ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. The business had revenue of $62.43 million during the quarter, compared to analysts' expectations of $37.60 million. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.24%. During the same quarter in the prior year, the company posted $0.66 earnings per share. Research analysts predict that Civista Bancshares will post 1.76 earnings per share for the current year.

Insider Activity

In other Civista Bancshares news, Director Julie A. Mattlin bought 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $15.60 per share, for a total transaction of $31,200.00. Following the transaction, the director now directly owns 12,442 shares in the company, valued at approximately $194,095.20. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently added to or reduced their stakes in CIVB. BNP Paribas Financial Markets boosted its position in Civista Bancshares by 53.3% during the 1st quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank's stock worth $440,000 after buying an additional 9,953 shares during the period. Empowered Funds LLC raised its holdings in Civista Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,169 shares of the bank's stock worth $679,000 after purchasing an additional 3,325 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Civista Bancshares by 11.3% during the 1st quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank's stock worth $370,000 after purchasing an additional 2,453 shares during the last quarter. Vanguard Group Inc. raised its holdings in Civista Bancshares by 1.1% during the 1st 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. Finally, EntryPoint Capital LLC bought a new position in Civista Bancshares during the 1st quarter worth approximately $63,000. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Civista Bancshares Company Profile

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.