Civista Bancshares (CIVB) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Civista Bancshares (NASDAQ:CIVB) from a strong-buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Civista Bancshares, Inc. is a bank holding company. The Company is involved in the business of community banking, through its subsidiaries. It operates primarily in Ohio. Civista Bancshares, Inc., formerly known as First Citizens Banc Corp, is based in SANDUSKY, United States. “

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A number of other research analysts also recently issued reports on CIVB. Boenning Scattergood set a $24.00 price objective on shares of Civista Bancshares and gave the company a buy rating in a research report on Thursday, March 15th. Hovde Group set a $24.00 price objective on shares of Civista Bancshares and gave the company a hold rating in a research report on Wednesday, January 3rd. Sandler O’Neill set a $26.00 price objective on shares of Civista Bancshares and gave the company a buy rating in a research report on Wednesday, March 14th. Finally, Keefe, Bruyette & Woods reissued a buy rating and set a $27.00 price objective on shares of Civista Bancshares in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $25.08.

Shares of Civista Bancshares stock opened at $22.92 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The firm has a market cap of $238.38, a price-to-earnings ratio of 17.23, a P/E/G ratio of 1.82 and a beta of 0.39. Civista Bancshares has a 12-month low of $18.82 and a 12-month high of $24.69.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Friday, January 26th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.10. The business had revenue of $18.19 million for the quarter, compared to the consensus estimate of $17.71 million. Civista Bancshares had a net margin of 21.18% and a return on equity of 10.08%. analysts forecast that Civista Bancshares will post 1.6 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in CIVB. Castine Capital Management LLC grew its position in shares of Civista Bancshares by 45.8% in the 3rd quarter. Castine Capital Management LLC now owns 334,843 shares of the bank’s stock worth $7,480,000 after buying an additional 105,228 shares during the period. State Street Corp purchased a new stake in shares of Civista Bancshares in the 2nd quarter worth about $2,174,000. Wells Fargo & Company MN grew its position in shares of Civista Bancshares by 459.9% in the 3rd quarter. Wells Fargo & Company MN now owns 40,162 shares of the bank’s stock worth $896,000 after buying an additional 32,989 shares during the period. Russell Investments Group Ltd. grew its position in shares of Civista Bancshares by 43.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 102,387 shares of the bank’s stock worth $2,288,000 after buying an additional 31,023 shares during the period. Finally, Context BH Capital Management LP grew its position in shares of Civista Bancshares by 50.7% in the 4th quarter. Context BH Capital Management LP now owns 86,453 shares of the bank’s stock worth $1,902,000 after buying an additional 29,073 shares during the period. 45.22% of the stock is currently owned by hedge funds and other institutional investors.

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Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.

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Analyst Recommendations for Civista Bancshares (NASDAQ:CIVB)

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