Civista Bancshares, Inc. (NASDAQ:CIVB) Receives Average Rating of "Hold" from Brokerages

Key Points

• Civista Bancshares, Inc. (NASDAQ:CIVB) has received an average stock recommendation of "Hold" from seven analysts, with one buy and one strong buy rating.
• The average 12-month price target among analysts for Civista Bancshares is $24.80, down from previous targets set by some research firms.
• Insider buying activity included Director Nathan E. Weaks purchasing 2,000 shares at an average price of $19.88, increasing his position by 31.83%.

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) have been assigned an average recommendation of "Hold" from the seven analysts that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.80.

A number of equities research analysts have recently weighed in on CIVB shares. Stephens dropped their target price on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 29th. Hovde Group downgraded Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $22.00 price objective for the company. in a report on Monday, August 18th. DA Davidson upgraded Civista Bancshares to a "strong-buy" rating in a report on Monday. Zacks Research upgraded Civista Bancshares from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Civista Bancshares in a report on Wednesday, October 8th.

Insider Buying and Selling

In related news, Director Nathan E. Weaks acquired 2,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $19.88 per share, for a total transaction of $39,760.00. Following the completion of the acquisition, the director owned 8,283 shares of the company's stock, valued at $164,666.04. This trade represents a 31.83% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 3,500 shares of company stock valued at $69,085 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Civista Bancshares

Several large investors have recently modified their holdings of CIVB. Strategic Value Bank Partners LLC bought a new stake in shares of Civista Bancshares in the third quarter worth about $2,031,000. CWM LLC increased its holdings in shares of Civista Bancshares by 92.6% in the third quarter. CWM LLC now owns 7,356 shares of the bank's stock worth $149,000 after acquiring an additional 3,537 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Civista Bancshares in the third quarter worth about $1,603,000. Caldwell Trust Co bought a new stake in shares of Civista Bancshares in the second quarter worth about $32,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank's stock worth $75,000 after acquiring an additional 2,783 shares in the last quarter. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Trading Down 0.7%

CIVB stock opened at $20.78 on Wednesday. The company has a market cap of $401.32 million, a P/E ratio of 8.21 and a beta of 0.73. Civista Bancshares has a twelve month low of $17.47 and a twelve month high of $25.59. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.35. The business has a fifty day moving average of $20.67 and a 200-day moving average of $21.35.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). The firm had revenue of $41.40 million for the quarter, compared to the consensus estimate of $43.07 million. Civista Bancshares had a return on equity of 9.77% and a net margin of 15.83%. As a group, equities research analysts expect that Civista Bancshares will post 2.28 EPS for the current year.

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.

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