Civista Bancshares (NASDAQ:CIVB) Trading Up 7.6%

Civista Bancshares Inc (NASDAQ:CIVB) were up 7.6% during trading on Tuesday . The company traded as high as $13.99 and last traded at $13.80, approximately 191,020 shares traded hands during mid-day trading. An increase of 238% from the average daily volume of 56,561 shares. The stock had previously closed at $12.82.

CIVB has been the topic of several recent research reports. BidaskClub cut Civista Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. ValuEngine upgraded Civista Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Boenning Scattergood raised Civista Bancshares from a “neutral” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $25.50.

The stock has a market capitalization of $228.25 million, a PE ratio of 6.93 and a beta of 0.94. The firm’s fifty day moving average is $19.15 and its 200-day moving average is $21.51. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.78.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Friday, February 7th. The bank reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). The business had revenue of $26.85 million during the quarter, compared to analysts’ expectations of $26.70 million. Civista Bancshares had a net margin of 28.12% and a return on equity of 10.68%. On average, analysts expect that Civista Bancshares Inc will post 1.96 EPS for the current year.

In other Civista Bancshares news, Director Gerald B. Wurm purchased 10,353 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $19.36 per share, for a total transaction of $200,434.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.58% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System purchased a new stake in shares of Civista Bancshares during the 4th quarter worth $34,000. Bessemer Group Inc. purchased a new stake in Civista Bancshares during the fourth quarter worth about $72,000. Citigroup Inc. increased its holdings in Civista Bancshares by 59.2% in the fourth quarter. Citigroup Inc. now owns 3,083 shares of the bank’s stock valued at $74,000 after buying an additional 1,146 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Civista Bancshares by 19.6% during the 4th quarter. Bank of Montreal Can now owns 3,378 shares of the bank’s stock valued at $81,000 after acquiring an additional 554 shares during the period. Finally, M&T Bank Corp acquired a new stake in shares of Civista Bancshares in the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 58.85% of the company’s stock.

Civista Bancshares Company Profile (NASDAQ:CIVB)

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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