Civista Bancshares, Inc. (NASDAQ:CIVB) Receives $25.20 Average Price Target from Analysts

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $25.00.

Several research firms have weighed in on CIVB. Wall Street Zen downgraded shares of Civista Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Keefe, Bruyette & Woods increased their price target on shares of Civista Bancshares from $25.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Piper Sandler increased their price target on shares of Civista Bancshares from $23.00 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Stephens raised their price objective on shares of Civista Bancshares from $24.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Finally, DA Davidson set a $26.00 price objective on shares of Civista Bancshares and gave the company a "buy" rating in a research report on Monday.

Civista Bancshares Stock Performance

CIVB stock traded down $0.13 on Monday, hitting $21.45. The company had a trading volume of 88,142 shares, compared to its average volume of 52,917. Civista Bancshares has a 12-month low of $14.90 and a 12-month high of $25.59. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.19. The stock's 50-day simple moving average is $22.85 and its 200 day simple moving average is $21.28. The stock has a market cap of $332.90 million, a price-to-earnings ratio of 9.45 and a beta of 0.69.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.16. Civista Bancshares had a net margin of 14.35% and a return on equity of 9.13%. The business had revenue of $40.63 million for the quarter, compared to the consensus estimate of $40.33 million. As a group, equities research analysts expect that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Darci L. Congrove purchased 1,250 shares of Civista Bancshares stock in a transaction on Friday, July 11th. The shares were bought at an average cost of $21.25 per share, for a total transaction of $26,562.50. Following the acquisition, the director owned 1,250 shares in the company, valued at approximately $26,562.50. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard J. Dutton purchased 4,000 shares of Civista Bancshares stock in a transaction on Friday, July 11th. The stock was bought at an average price of $21.25 per share, for a total transaction of $85,000.00. Following the completion of the acquisition, the senior vice president owned 4,000 shares in the company, valued at $85,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 17,385 shares of company stock valued at $376,741 over the last 90 days. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Civista Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in CIVB. CWM LLC boosted its stake in shares of Civista Bancshares by 43.7% during the 1st quarter. CWM LLC now owns 3,084 shares of the bank's stock worth $60,000 after purchasing an additional 938 shares during the period. GAMMA Investing LLC boosted its stake in shares of Civista Bancshares by 4,003.0% during the 1st quarter. GAMMA Investing LLC now owns 4,103 shares of the bank's stock worth $80,000 after purchasing an additional 4,003 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Civista Bancshares by 103.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 5,120 shares of the bank's stock worth $108,000 after purchasing an additional 2,609 shares during the period. Deutsche Bank AG boosted its stake in shares of Civista Bancshares by 77.0% during the 4th quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock worth $162,000 after purchasing an additional 3,347 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Civista Bancshares by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank's stock worth $189,000 after purchasing an additional 1,960 shares during the period. 52.10% of the stock is owned by hedge funds and other institutional investors.

About Civista Bancshares

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.