Civista Bancshares (CIVB) Lowered to “Sell” at ValuEngine

ValuEngine downgraded shares of Civista Bancshares (NASDAQ:CIVB) from a hold rating to a sell rating in a report released on Tuesday morning.

Several other research firms have also recently issued reports on CIVB. BidaskClub upgraded shares of Civista Bancshares from a sell rating to a hold rating in a report on Saturday, September 22nd. Zacks Investment Research cut shares of Civista Bancshares from a buy rating to a hold rating in a report on Thursday, August 2nd. Hovde Group reiterated a hold rating and issued a $26.00 price objective on shares of Civista Bancshares in a report on Thursday, August 2nd. Keefe, Bruyette & Woods reiterated a buy rating and issued a $31.00 price objective on shares of Civista Bancshares in a report on Monday, July 30th. Finally, Boenning Scattergood reiterated a buy rating on shares of Civista Bancshares in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Civista Bancshares presently has a consensus rating of Hold and a consensus price target of $26.50.

Civista Bancshares stock opened at $21.50 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $247.66 million, a PE ratio of 13.27, a P/E/G ratio of 1.67 and a beta of 0.53. Civista Bancshares has a 12-month low of $20.41 and a 12-month high of $25.88.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Friday, November 2nd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $19.11 million during the quarter, compared to analysts’ expectations of $22.16 million. Civista Bancshares had a net margin of 12.75% and a return on equity of 12.69%. As a group, sell-side analysts anticipate that Civista Bancshares will post 1.72 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Tuesday, October 23rd were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Monday, October 22nd. Civista Bancshares’s payout ratio is 27.07%.

Large investors have recently modified their holdings of the stock. Huntington National Bank bought a new stake in Civista Bancshares during the third quarter worth approximately $122,000. MetLife Investment Advisors LLC bought a new stake in Civista Bancshares during the second quarter worth approximately $127,000. Macquarie Group Ltd. boosted its holdings in Civista Bancshares by 544.0% during the second quarter. Macquarie Group Ltd. now owns 8,050 shares of the bank’s stock worth $195,000 after buying an additional 6,800 shares in the last quarter. Rhumbline Advisers bought a new stake in Civista Bancshares during the second quarter worth approximately $239,000. Finally, Mackay Shields LLC bought a new stake in Civista Bancshares during the second quarter worth approximately $305,000. Hedge funds and other institutional investors own 57.18% of the company’s stock.

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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