Civista Bancshares (NASDAQ:CIVB) Downgraded by BidaskClub

BidaskClub cut shares of Civista Bancshares (NASDAQ:CIVB) from a hold rating to a sell rating in a research report released on Tuesday, BidAskClub reports.

CIVB has been the topic of a number of other reports. Boenning Scattergood upgraded shares of Civista Bancshares from a neutral rating to an outperform rating and set a $25.00 price objective on the stock in a research report on Tuesday. DA Davidson reiterated a buy rating on shares of Civista Bancshares in a research report on Monday, November 18th. Zacks Investment Research upgraded shares of Civista Bancshares from a sell rating to a hold rating in a research report on Friday, November 15th. Finally, ValuEngine upgraded shares of Civista Bancshares from a strong sell rating to a sell rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Civista Bancshares currently has an average rating of Hold and an average price target of $25.00.

NASDAQ:CIVB traded down $0.32 during midday trading on Tuesday, reaching $22.17. The stock had a trading volume of 3,062 shares, compared to its average volume of 40,500. The firm has a fifty day simple moving average of $22.93 and a two-hundred day simple moving average of $22.03. Civista Bancshares has a 12-month low of $18.82 and a 12-month high of $24.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.83. The stock has a market cap of $349.05 million, a P/E ratio of 11.01 and a beta of 0.85.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Friday, February 7th. The bank reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Civista Bancshares had a net margin of 28.12% and a return on equity of 10.83%. The firm had revenue of $26.85 million during the quarter, compared to analysts’ expectations of $26.70 million. On average, sell-side analysts anticipate that Civista Bancshares will post 2.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, February 1st. Shareholders of record on Tuesday, January 21st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Friday, January 17th. Civista Bancshares’s dividend payout ratio (DPR) is currently 21.89%.

In other Civista Bancshares news, Director Harry Singer bought 1,200 shares of Civista Bancshares stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $21.20 per share, with a total value of $25,440.00. Following the completion of the acquisition, the director now owns 3,726 shares in the company, valued at $78,991.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.45% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in Civista Bancshares by 4.8% in the fourth quarter. Bank of America Corp DE now owns 10,916 shares of the bank’s stock valued at $261,000 after acquiring an additional 497 shares during the period. Marshall Wace LLP acquired a new stake in Civista Bancshares in the fourth quarter valued at $361,000. Bank of New York Mellon Corp lifted its holdings in Civista Bancshares by 37.1% in the fourth quarter. Bank of New York Mellon Corp now owns 107,095 shares of the bank’s stock valued at $2,570,000 after acquiring an additional 29,001 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Civista Bancshares by 34.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 75,647 shares of the bank’s stock valued at $1,815,000 after acquiring an additional 19,338 shares during the period. Finally, UBS Group AG lifted its holdings in Civista Bancshares by 33.8% in the fourth quarter. UBS Group AG now owns 29,038 shares of the bank’s stock valued at $697,000 after acquiring an additional 7,338 shares during the period. 56.42% of the stock is owned by institutional investors.

About Civista Bancshares

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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