Zacks Investment Research upgraded shares of Civista Bancshares (NASDAQ:CIVB) from a hold rating to a strong-buy rating in a research note published on Tuesday. The brokerage currently has $25.00 price objective on the bank’s stock.

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. “

A number of other equities analysts have also commented on the company. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $25.50 price target on shares of Civista Bancshares in a report on Friday, December 22nd. ValuEngine lowered Civista Bancshares from a strong-buy rating to a buy rating in a report on Thursday, November 30th. Finally, Sandler O’Neill reaffirmed a buy rating and issued a $25.00 price target (up from $23.50) on shares of Civista Bancshares in a report on Friday, October 6th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Civista Bancshares presently has an average rating of Buy and an average price target of $24.67.

Shares of Civista Bancshares (NASDAQ:CIVB) traded up $0.08 during midday trading on Tuesday, reaching $22.09. The company’s stock had a trading volume of 6,313 shares, compared to its average volume of 23,413. Civista Bancshares has a 1-year low of $18.59 and a 1-year high of $23.76. The company has a market capitalization of $224.07, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 1.89 and a beta of 0.55. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Friday, October 27th. The bank reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). Civista Bancshares had a return on equity of 10.32% and a net margin of 21.56%. The company had revenue of $17.15 million during the quarter, compared to the consensus estimate of $17.60 million. equities research analysts anticipate that Civista Bancshares will post 1.23 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Civista Bancshares by 115.4% in the first quarter. Vanguard Group Inc. now owns 285,239 shares of the bank’s stock worth $6,321,000 after buying an additional 152,800 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Civista Bancshares by 35.7% in the first quarter. Geode Capital Management LLC now owns 44,830 shares of the bank’s stock worth $993,000 after buying an additional 11,804 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Civista Bancshares by 74.3% in the first quarter. Dimensional Fund Advisors LP now owns 27,657 shares of the bank’s stock worth $613,000 after buying an additional 11,786 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Civista Bancshares by 42.3% in the second quarter. Russell Investments Group Ltd. now owns 71,364 shares of the bank’s stock worth $1,490,000 after buying an additional 21,209 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Civista Bancshares in the second quarter worth $355,000. 43.92% of the stock is owned by hedge funds and other institutional investors.

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Civista Bancshares Company Profile

Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.

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Analyst Recommendations for Civista Bancshares (NASDAQ:CIVB)

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