Civista Bancshares (NASDAQ:CIVB) Given New $21.00 Price Target at Stephens

Civista Bancshares (NASDAQ:CIVB) had its price objective upped by analysts at Stephens from $18.00 to $21.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Stephens’ target price would indicate a potential upside of 4.53% from the company’s current price.

CIVB has been the subject of a number of other reports. Piper Sandler raised their target price on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $19.00 price objective (up from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Civista Bancshares Trading Up 7.2 %

Shares of Civista Bancshares stock traded up $1.35 during trading hours on Wednesday, hitting $20.09. The company’s stock had a trading volume of 95,987 shares, compared to its average volume of 38,759. The firm has a fifty day moving average of $17.47 and a 200-day moving average of $16.02. Civista Bancshares has a twelve month low of $13.60 and a twelve month high of $20.26. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $315.96 million, a price-to-earnings ratio of 8.62 and a beta of 0.80.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The firm had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.24%. During the same quarter last year, the company posted $0.66 EPS. Research analysts forecast that Civista Bancshares will post 1.76 EPS for the current year.

Insider Transactions at Civista Bancshares

In related news, Director Julie A. Mattlin acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the transaction, the director now owns 12,442 shares in the company, valued at $194,095.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.01% of the company’s stock.

Institutional Trading of Civista Bancshares

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Civista Bancshares by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock worth $375,000 after purchasing an additional 619 shares during the period. Russell Investments Group Ltd. boosted its stake in Civista Bancshares by 11.3% in the 1st quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank’s stock worth $370,000 after buying an additional 2,453 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Civista Bancshares by 5.4% in the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock valued at $800,000 after buying an additional 2,650 shares during the period. Empowered Funds LLC increased its stake in shares of Civista Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock valued at $679,000 after acquiring an additional 3,325 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Civista Bancshares by 24.7% during the 1st quarter. Quadrature Capital Ltd now owns 18,535 shares of the bank’s stock worth $283,000 after acquiring an additional 3,672 shares during the period. Institutional investors and hedge funds own 52.10% of the company’s stock.

Civista Bancshares Company Profile

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.