Civista Bancshares (CIVB) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Civista Bancshares (NASDAQ:CIVB) from a strong sell rating to a sell rating in a research note issued to investors on Thursday morning.

Several other research firms have also recently issued reports on CIVB. Zacks Investment Research cut shares of Civista Bancshares from a buy rating to a hold rating in a research report on Thursday, August 2nd. Hovde Group reissued a hold rating and issued a $26.00 target price on shares of Civista Bancshares in a research report on Thursday, August 2nd. Keefe, Bruyette & Woods reissued a buy rating and issued a $31.00 target price on shares of Civista Bancshares in a research report on Monday, July 30th. Boenning Scattergood reissued a buy rating on shares of Civista Bancshares in a research report on Monday, July 30th. Finally, ValuEngine cut shares of Civista Bancshares from a hold rating to a sell rating in a research report on Tuesday, November 6th. Three equities 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. The stock currently has an average rating of Hold and an average price target of $26.50.

Shares of CIVB traded down $0.04 during mid-day trading on Thursday, hitting $20.97. The company had a trading volume of 350 shares, compared to its average volume of 31,499. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.97 and a current ratio of 0.97. Civista Bancshares has a 1-year low of $20.44 and a 1-year high of $25.88. The stock has a market capitalization of $323.58 million, a PE ratio of 15.77, a P/E/G ratio of 1.93 and a beta of 0.53.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Friday, November 2nd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Civista Bancshares had a net margin of 12.75% and a return on equity of 10.98%. The business had revenue of $19.11 million for the quarter, compared to analysts’ expectations of $22.16 million. As a group, sell-side analysts expect that Civista Bancshares will post 1.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Tuesday, October 23rd were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, October 22nd. This represents a $0.36 annualized dividend and a yield of 1.72%. Civista Bancshares’s payout ratio is 27.07%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank purchased a new position in Civista Bancshares in the third quarter valued at approximately $122,000. MetLife Investment Advisors LLC purchased a new position in Civista Bancshares in the second quarter valued at approximately $127,000. Macquarie Group Ltd. raised its holdings in Civista Bancshares by 544.0% in the second quarter. Macquarie Group Ltd. now owns 8,050 shares of the bank’s stock valued at $195,000 after buying an additional 6,800 shares during the period. American International Group Inc. raised its holdings in Civista Bancshares by 39.5% in the third quarter. American International Group Inc. now owns 9,134 shares of the bank’s stock valued at $220,000 after buying an additional 2,584 shares during the period. Finally, Rhumbline Advisers purchased a new position in Civista Bancshares in the second quarter valued at approximately $239,000. Hedge funds and other institutional investors own 64.31% 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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