Civista Bancshares (NASDAQ:CIVB) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Civista Bancshares, Inc. is a bank holding company. The Company is involved in the business of community banking, through its subsidiaries. It operates primarily in Ohio. Civista Bancshares, Inc., formerly known as First Citizens Banc Corp, is based in SANDUSKY, United States. “

Several other equities research analysts have also issued reports on CIVB. TheStreet raised shares of Civista Bancshares from a “c+” rating to a “b” rating in a research report on Friday, February 15th. BidaskClub lowered shares of Civista Bancshares from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 26th. Finally, ValuEngine raised shares of Civista Bancshares from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $26.50.

Shares of Civista Bancshares stock traded up $0.77 during trading hours on Tuesday, hitting $22.04. The company’s stock had a trading volume of 41,200 shares, compared to its average volume of 38,214. Civista Bancshares has a 1-year low of $15.55 and a 1-year high of $25.88. The firm has a market capitalization of $340.39 million, a P/E ratio of 11.91, a PEG ratio of 1.37 and a beta of 0.82. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.77.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Friday, February 15th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.08. Civista Bancshares had a net margin of 15.40% and a return on equity of 11.07%. The company had revenue of $25.58 million during the quarter, compared to analyst estimates of $23.96 million. On average, research analysts expect that Civista Bancshares will post 2.03 EPS for the current fiscal year.

In other news, insider W Michael Mclaughlin sold 11,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $21.11, for a total value of $232,210.00. Following the completion of the transaction, the insider now directly owns 12,287 shares in the company, valued at $259,378.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.45% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. RMB Capital Management LLC boosted its stake in shares of Civista Bancshares by 1.8% in the fourth quarter. RMB Capital Management LLC now owns 843,061 shares of the bank’s stock valued at $14,686,000 after purchasing an additional 14,533 shares during the period. BlackRock Inc. boosted its stake in shares of Civista Bancshares by 2.3% in the fourth quarter. BlackRock Inc. now owns 729,376 shares of the bank’s stock valued at $12,705,000 after purchasing an additional 16,286 shares during the period. Vanguard Group Inc. boosted its stake in shares of Civista Bancshares by 21.5% in the third quarter. Vanguard Group Inc. now owns 576,071 shares of the bank’s stock valued at $13,877,000 after purchasing an additional 101,796 shares during the period. Vanguard Group Inc boosted its stake in Civista Bancshares by 21.5% during the 3rd quarter. Vanguard Group Inc now owns 576,071 shares of the bank’s stock valued at $13,877,000 after acquiring an additional 101,796 shares during the last quarter. Finally, Context BH Capital Management LP boosted its stake in Civista Bancshares by 3.5% during the 4th quarter. Context BH Capital Management LP now owns 311,324 shares of the bank’s stock valued at $5,423,000 after acquiring an additional 10,620 shares during the last quarter. Institutional investors and hedge funds own 51.92% of the company’s stock.

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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