Civista Bancshares (NASDAQ:CIVB) Stock Rating Lowered by Wall Street Zen

Civista Bancshares (NASDAQ:CIVB - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other brokerages have also recently issued reports on CIVB. Stephens increased their target price on shares of Civista Bancshares from $24.00 to $25.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, Piper Sandler increased their price objective on shares of Civista Bancshares from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $25.20.

Civista Bancshares Stock Up 1.8%

Shares of NASDAQ CIVB traded up $0.42 during mid-day trading on Friday, reaching $23.62. The company had a trading volume of 74,980 shares, compared to its average volume of 50,182. The firm has a 50 day simple moving average of $22.51 and a two-hundred day simple moving average of $21.12. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.19. Civista Bancshares has a 52-week low of $14.33 and a 52-week high of $24.24. The stock has a market cap of $366.58 million, a P/E ratio of 10.41 and a beta of 0.69.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.16. The company had revenue of $40.63 million for the quarter, compared to analysts' expectations of $40.33 million. Civista Bancshares had a net margin of 14.35% and a return on equity of 9.13%. Sell-side analysts predict that Civista Bancshares will post 2.28 earnings per share for the current year.

Insider Buying and Selling at Civista Bancshares

In other Civista Bancshares news, Chairman Dennis E. Murray, Jr. purchased 6,143 shares of Civista Bancshares stock in a transaction on Tuesday, April 29th. The shares were purchased at an average cost of $22.44 per share, with a total value of $137,848.92. Following the completion of the transaction, the chairman directly owned 19,162 shares in the company, valued at approximately $429,995.28. This represents a 47.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Civista Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC increased its position in shares of Civista Bancshares by 43.7% in 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 last quarter. GAMMA Investing LLC grew its position in Civista Bancshares by 4,003.0% in 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 last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Civista Bancshares by 103.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 5,120 shares of the bank's stock worth $108,000 after buying an additional 2,609 shares during the period. Deutsche Bank AG raised its stake in Civista Bancshares by 77.0% during the 4th quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock valued at $162,000 after acquiring an additional 3,347 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in 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 acquiring 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.