Civista Bancshares (NASDAQ:CIVB) Upgraded to Buy by DA Davidson

DA Davidson upgraded shares of Civista Bancshares (NASDAQ:CIVB) from a neutral rating to a buy rating in a report published on Friday, BenzingaRatingsTable reports.

Several other research firms also recently weighed in on CIVB. Zacks Investment Research downgraded Civista Bancshares from a strong-buy rating to a hold rating in a research note on Tuesday, April 23rd. BidaskClub upgraded Civista Bancshares from a sell rating to a hold rating in a research note on Tuesday, July 23rd. Boenning Scattergood restated a hold rating on shares of Civista Bancshares in a research note on Friday, July 26th. ValuEngine downgraded Civista Bancshares from a hold rating to a sell rating in a research note on Friday, June 7th. Finally, Keefe, Bruyette & Woods downgraded Civista Bancshares from an outperform rating to a market perform rating and set a $26.00 price target on the stock. in a research note on Sunday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Civista Bancshares currently has a consensus rating of Hold and a consensus price target of $25.33.

Shares of Civista Bancshares stock traded up $0.24 during midday trading on Friday, hitting $21.34. The company had a trading volume of 20,881 shares, compared to its average volume of 34,117. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $333.33 million, a PE ratio of 11.54, a P/E/G ratio of 1.30 and a beta of 0.75. The firm has a 50 day moving average price of $21.70. Civista Bancshares has a 52-week low of $15.55 and a 52-week high of $25.44.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Friday, July 26th. The bank reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The company had revenue of $26.85 million for the quarter, compared to the consensus estimate of $26.62 million. Civista Bancshares had a return on equity of 10.73% and a net margin of 20.31%. As a group, equities analysts expect that Civista Bancshares will post 2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Tuesday, July 23rd were paid a dividend of $0.11 per share. The ex-dividend date was Monday, July 22nd. This represents a $0.44 annualized dividend and a yield of 2.06%. Civista Bancshares’s dividend payout ratio is 23.78%.

In other Civista Bancshares news, Director Gerald B. Wurm bought 10,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were acquired at an average cost of $21.77 per share, for a total transaction of $217,700.00. Following the purchase, the director now owns 2,878 shares in the company, valued at approximately $62,654.06. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.45% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. boosted its stake in Civista Bancshares by 474.4% during the 4th quarter. Macquarie Group Ltd. now owns 1,413 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,167 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Civista Bancshares by 96.7% in the 2nd quarter. Bank of Montreal Can now owns 2,760 shares of the bank’s stock worth $62,000 after buying an additional 1,357 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Civista Bancshares by 893.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,952 shares of the bank’s stock worth $64,000 after buying an additional 2,655 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Civista Bancshares by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,896 shares of the bank’s stock worth $85,000 after buying an additional 3,824 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Civista Bancshares by 23.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,213 shares of the bank’s stock worth $92,000 after buying an additional 803 shares during the last quarter. Institutional investors and hedge funds own 53.90% 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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