Civista Bancshares (NASDAQ:CIVB) Receives Equal Weight Rating from Stephens

Civista Bancshares (NASDAQ:CIVB)‘s stock had its “equal weight” rating reissued by Stephens in a note issued to investors on Friday,Benzinga reports. They currently have a $24.00 target price on the bank’s stock. Stephens’ price target would indicate a potential upside of 7.20% from the stock’s current price.

CIVB has been the subject of several other reports. Keefe, Bruyette & Woods lifted their price objective on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Civista Bancshares presently has an average rating of “Moderate Buy” and an average target price of $22.50.

Civista Bancshares Stock Performance

CIVB traded up $1.00 during trading on Friday, hitting $22.39. The stock had a trading volume of 28,846 shares, compared to its average volume of 45,997. The company has a 50 day moving average price of $21.49 and a 200-day moving average price of $19.29. The firm has a market cap of $352.40 million, a price-to-earnings ratio of 11.19 and a beta of 0.82. Civista Bancshares has a one year low of $13.60 and a one year high of $23.69. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.10. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. As a group, research analysts predict that Civista Bancshares will post 1.92 EPS for the current year.

Hedge Funds Weigh In On Civista Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of CIVB. Dimensional Fund Advisors LP increased its holdings in Civista Bancshares by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock worth $12,316,000 after purchasing an additional 6,234 shares in the last quarter. AQR Capital Management LLC acquired a new position in Civista Bancshares in the 2nd quarter worth about $323,000. SG Americas Securities LLC acquired a new position in Civista Bancshares in the 3rd quarter worth about $102,000. Inspire Investing LLC acquired a new position in Civista Bancshares in the 3rd quarter worth about $926,000. Finally, Assenagon Asset Management S.A. increased its holdings in Civista Bancshares by 130.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock worth $1,131,000 after purchasing an additional 35,968 shares in the last quarter. 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.