Civista Bancshares (NASDAQ:CIVB) Upgraded at Hovde Group

by · The Markets Daily

Hovde Group upgraded shares of Civista Bancshares (NASDAQ:CIVB – Free Report) from a market perform rating to an outperform rating in a research note released on Wednesday morning, MarketBeat reports. The brokerage currently has $22.00 target price on the bank’s stock.

A number of other brokerages have also recently commented on CIVB. Piper Sandler upped their price target on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Civista Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

View Our Latest Stock Report on Civista Bancshares

Civista Bancshares Stock Performance

Shares of NASDAQ CIVB opened at $20.36 on Wednesday. Civista Bancshares has a 12-month low of $13.60 and a 12-month high of $20.93. The firm has a market capitalization of $320.47 million, a price-to-earnings ratio of 10.13 and a beta of 0.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.64. The firm has a 50 day moving average of $17.69 and a 200 day moving average of $16.12.

Civista Bancshares (NASDAQ:CIVB – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. The business had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.46%. During the same quarter last year, the company posted $0.66 EPS. On average, research analysts anticipate that Civista Bancshares will post 1.76 earnings per share for the current year.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.64 dividend on an annualized basis and a yield of 3.14%. Civista Bancshares’s dividend payout ratio is presently 31.84%.

Insider Activity

In other Civista Bancshares news, Director Julie A. Mattlin bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $15.60 per share, with a total value of $31,200.00. Following the purchase, the director now owns 12,442 shares of the company’s stock, valued at $194,095.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.01% of the company’s stock.

Hedge Funds Weigh In On Civista Bancshares

Several institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new stake in Civista Bancshares in the 1st quarter worth $63,000. SG Americas Securities LLC bought a new position in Civista Bancshares during the third quarter valued at approximately $102,000. Princeton Capital Management LLC bought a new position in Civista Bancshares during the second quarter valued at approximately $189,000. Allspring Global Investments Holdings LLC grew its holdings in Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock valued at $197,000 after buying an additional 12,624 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in Civista Bancshares by 24.7% in the 1st quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock worth $283,000 after acquiring an additional 3,672 shares during the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

Civista Bancshares Company Profile

(Get Free Report)

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.

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