Keefe, Bruyette & Woods Reaffirms “Buy” Rating for Civista Bancshares Inc (CIVB)
Civista Bancshares Inc (NASDAQ:CIVB)‘s stock had its “buy” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report issued on Wednesday. They currently have a $24.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 5.63% from the stock’s current price.
Several other research analysts also recently commented on CIVB. Zacks Investment Research downgraded shares of Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 6th. DA Davidson restated a “neutral” rating and issued a $24.50 price objective on shares of Civista Bancshares in a report on Tuesday, July 4th. Finally, Boenning Scattergood set a $24.00 price objective on shares of Civista Bancshares and gave the company a “buy” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $22.65.
Civista Bancshares (CIVB) opened at 22.72 on Wednesday. The stock’s 50 day moving average is $20.62 and its 200 day moving average is $20.88. The company has a market cap of $231.06 million, a P/E ratio of 16.87 and a beta of 0.50. Civista Bancshares has a 1-year low of $14.09 and a 1-year high of $23.75.
Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Friday, July 28th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.04). The firm had revenue of $17.47 million during the quarter, compared to analysts’ expectations of $17.70 million. Civista Bancshares had a return on equity of 8.29% and a net margin of 20.59%. Equities analysts anticipate that Civista Bancshares will post $1.27 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in Civista Bancshares during the 2nd quarter valued at about $367,000. The Manufacturers Life Insurance Company grew its position in Civista Bancshares by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 212,328 shares of the bank’s stock worth $4,434,000 after acquiring an additional 15,690 shares during the last quarter. State Street Corp bought a new position in Civista Bancshares during the 2nd quarter worth approximately $2,174,000. Cornerstone Capital Management Holdings LLC. bought a new position in Civista Bancshares during the 2nd quarter worth approximately $124,000. Finally, OxFORD Asset Management LLP grew its position in Civista Bancshares by 16.5% during the 2nd quarter. OxFORD Asset Management LLP now owns 27,684 shares of the bank’s stock worth $578,000 after acquiring an additional 3,915 shares during the last quarter. 42.33% of the stock is owned by institutional investors.
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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