Keefe, Bruyette & Woods Issues Positive Forecast for Civista Bancshares (NASDAQ:CIVB) Stock Price

Civista Bancshares (NASDAQ:CIVB) had its target price hoisted by equities researchers at Keefe, Bruyette & Woods from $22.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 10.23% from the stock’s previous close.

Several other equities analysts also recently weighed in on CIVB. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Wednesday, October 30th. Stephens raised their price objective on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Civista Bancshares Stock Performance

Shares of NASDAQ:CIVB traded down $0.07 during trading on Wednesday, hitting $22.68. The company’s stock had a trading volume of 11,698 shares, compared to its average volume of 41,640. 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 cap of $356.92 million, a price-to-earnings ratio of 11.28 and a beta of 0.81. The company has a 50-day moving average of $20.06 and a 200-day moving average of $17.36. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $23.69.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The business had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. During the same period in the prior year, the company earned $0.66 earnings per share. On average, sell-side analysts expect that Civista Bancshares will post 1.91 earnings per share for the current year.

Institutional Trading of Civista Bancshares

Several institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Civista Bancshares in the 3rd quarter worth approximately $45,000. SG Americas Securities LLC purchased a new position in shares of Civista Bancshares in the third quarter worth $102,000. Princeton Capital Management LLC bought a new position in shares of Civista Bancshares during the second quarter worth $189,000. Allspring Global Investments Holdings LLC grew its stake in Civista Bancshares by 10,347.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock valued at $197,000 after acquiring an additional 12,624 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Civista Bancshares by 4.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock valued at $248,000 after acquiring an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

About Civista Bancshares

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.