Civista Bancshares (CIVB) Rating Lowered to Neutral at Boenning Scattergood

Civista Bancshares (NASDAQ:CIVB) was downgraded by equities research analysts at Boenning Scattergood from an “outperform” rating to a “neutral” rating in a report issued on Monday, The Fly reports.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $31.00 price objective on shares of Civista Bancshares in a report on Monday, July 30th. Zacks Investment Research raised shares of Civista Bancshares from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Wednesday, August 1st. BidaskClub lowered shares of Civista Bancshares from a “hold” rating to a “sell” rating in a report on Friday, August 24th. Finally, Hovde Group reissued a “hold” rating and set a $26.00 price objective on shares of Civista Bancshares in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $26.50.

Shares of Civista Bancshares stock traded down $0.71 during mid-day trading on Monday, reaching $22.24. 224 shares of the stock were exchanged, compared to its average volume of 40,177. The stock has a market capitalization of $247.66 million, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 1.67 and a beta of 0.53. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 1.05. Civista Bancshares has a fifty-two week low of $20.41 and a fifty-two week high of $25.88.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Friday, November 2nd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Civista Bancshares had a net margin of 12.75% and a return on equity of 12.69%. The business had revenue of $19.11 million during the quarter, compared to analysts’ expectations of $22.16 million. On average, equities analysts anticipate that Civista Bancshares will post 1.72 earnings per share for the current year.

A number of large investors have recently modified their holdings of CIVB. Macnealy Hoover Investment Management Inc. grew its holdings in Civista Bancshares by 1,023.0% during the 3rd quarter. Macnealy Hoover Investment Management Inc. now owns 344,647 shares of the bank’s stock worth $8,302,000 after acquiring an additional 313,956 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Civista Bancshares by 58.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 164,854 shares of the bank’s stock valued at $3,996,000 after purchasing an additional 61,071 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Civista Bancshares by 12.5% in the 2nd quarter. BlackRock Inc. now owns 540,399 shares of the bank’s stock valued at $13,099,000 after purchasing an additional 59,899 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Civista Bancshares by 21.5% in the 2nd quarter. Renaissance Technologies LLC now owns 337,036 shares of the bank’s stock valued at $8,170,000 after purchasing an additional 59,736 shares during the last quarter. Finally, Salzhauer Michael bought a new position in shares of Civista Bancshares in the 3rd quarter valued at about $1,378,000. 57.18% of the stock is currently owned by hedge funds and other institutional investors.

About Civista Bancshares

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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