Stephens Reiterates Equal Weight Rating for Civista Bancshares (NASDAQ:CIVB)

Civista Bancshares (NASDAQ:CIVB)‘s stock had its “equal weight” rating reiterated by investment analysts at Stephens in a research note issued on Friday,Benzinga reports. They presently have a $24.00 price objective on the bank’s stock. Stephens’ target price indicates a potential upside of 8.79% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods increased their target price on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Civista Bancshares Price Performance

CIVB stock opened at $22.06 on Friday. The business’s 50-day moving average is $21.48 and its two-hundred day moving average is $19.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $347.22 million, a P/E ratio of 10.98 and a beta of 0.82. Civista Bancshares has a 1 year low of $13.60 and a 1 year high of $23.69.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. Analysts anticipate that Civista Bancshares will post 1.92 earnings per share for the current fiscal year.

Institutional Trading of Civista Bancshares

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Civista Bancshares by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock valued at $12,316,000 after buying an additional 6,234 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Civista Bancshares in the 2nd quarter valued at $323,000. SG Americas Securities LLC acquired a new stake in Civista Bancshares during the 3rd quarter worth $102,000. Inspire Investing LLC purchased a new stake in shares of Civista Bancshares in the third quarter valued at about $926,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Civista Bancshares by 130.8% during the third quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock worth $1,131,000 after buying an additional 35,968 shares during the period. 52.10% of the stock is 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.