Civista Bancshares’ (CIVB) “Outperform” Rating Reiterated at Keefe, Bruyette & Woods

Civista Bancshares (NASDAQ:CIVB)‘s stock had its “outperform” rating restated by stock analysts at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $18.00 price target on the bank’s stock, down from their previous price target of $21.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 24.91% from the stock’s current price.

CIVB has been the topic of a number of other research reports. TheStreet lowered Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Piper Sandler initiated coverage on Civista Bancshares in a research note on Wednesday, February 21st. They issued a “neutral” rating and a $18.00 target price on the stock. Hovde Group initiated coverage on Civista Bancshares in a research note on Monday, April 1st. They set a “market perform” rating and a $16.00 price target on the stock. Finally, Stephens reduced their price target on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Civista Bancshares presently has an average rating of “Hold” and an average price target of $17.75.

Civista Bancshares Price Performance

CIVB stock traded up $0.13 on Wednesday, reaching $14.41. The company had a trading volume of 4,451 shares, compared to its average volume of 28,043. Civista Bancshares has a 1 year low of $13.99 and a 1 year high of $19.80. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.96. The company’s fifty day moving average is $14.88 and its 200 day moving average is $15.90. The company has a market cap of $226.09 million, a P/E ratio of 5.22 and a beta of 0.78.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Tuesday, April 30th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Civista Bancshares had a net margin of 19.85% and a return on equity of 12.26%. The company had revenue of $58.63 million during the quarter, compared to analysts’ expectations of $38.01 million. During the same period in the previous year, the company posted $0.82 EPS. On average, research analysts forecast that Civista Bancshares will post 2.05 earnings per share for the current year.

Insider Transactions at Civista Bancshares

In other news, SVP Michael D. Mulford acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $15.82 per share, for a total transaction of $31,640.00. Following the acquisition, the senior vice president now directly owns 2,000 shares in the company, valued at approximately $31,640. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.01% of the company’s stock.

Institutional Trading of Civista Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Civista Bancshares by 294.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock valued at $38,000 after purchasing an additional 1,830 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Civista Bancshares during the third quarter worth about $104,000. Hillsdale Investment Management Inc. bought a new position in shares of Civista Bancshares during the fourth quarter worth about $109,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Civista Bancshares during the third quarter worth about $160,000. Finally, Gendell Jeffrey L bought a new position in shares of Civista Bancshares during the fourth quarter worth about $184,000. 52.10% of the stock is currently 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.