Civista Bancshares, Inc. (NASDAQ:CIVB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

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. “

CIVB has been the topic of a number of other reports. Boenning Scattergood set a $24.00 price target on shares of Civista Bancshares and gave the company a “buy” rating in a research report on Friday, July 28th. DA Davidson reissued a “neutral” rating and set a $24.50 price target on shares of Civista Bancshares in a research note on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $24.00 price objective on shares of Civista Bancshares in a report on Sunday, July 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.65.

Shares of Civista Bancshares (CIVB) traded up 0.04% during mid-day trading on Monday, hitting $22.35. 25,828 shares of the company traded hands. Civista Bancshares has a 1-year low of $14.03 and a 1-year high of $23.75. The stock has a market capitalization of $227.32 million, a PE ratio of 16.68 and a beta of 0.50. The firm’s 50 day moving average price is $20.08 and its 200-day moving average price is $20.94.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.04). The firm had revenue of $17.47 million for the quarter, compared to analysts’ expectations of $17.70 million. Civista Bancshares had a net margin of 21.97% and a return on equity of 11.19%. On average, equities research analysts forecast that Civista Bancshares will post $1.27 EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in CIVB. Nationwide Fund Advisors bought a new stake in shares of Civista Bancshares in the 1st quarter valued at about $759,000. Russell Investments Group Ltd. boosted its holdings in Civista Bancshares by 771.0% during the 1st quarter. Russell Investments Group Ltd. now owns 50,155 shares of the bank’s stock valued at $1,110,000 after acquiring an additional 44,397 shares during the period. Bank of New York Mellon Corp purchased a new stake in Civista Bancshares during the 1st quarter valued at about $267,000. Keybank National Association OH purchased a new stake in Civista Bancshares during the 1st quarter valued at about $211,000. Finally, Oxford Asset Management purchased a new stake in Civista Bancshares during the 1st quarter valued at about $527,000. Hedge funds and other institutional investors own 42.33% of the company’s stock.

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.

Analyst Recommendations for Civista Bancshares (NASDAQ:CIVB)

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