Stephens Issues Pessimistic Forecast for Civista Bancshares (NASDAQ:CIVB) Stock Price

Key Points

• Stephens has cut the price target for *Civista Bancshares* from $27.00 to $24.00 while maintaining an "equal weight" rating, indicating a potential upside of 18.93% from the company's previous close.
• Several brokerages have varying ratings and price targets for the stock, with *Keefe, Bruyette & Woods* setting a new target of $28.00 and others adjusting theirs downward, reflecting mixed analyst sentiments.
• Despite a missed earnings estimate of $0.66 EPS compared to the expected $0.69, Civista Bancshares reported a return on equity of 9.83% and has experienced notable insider buying activities, enhancing investor confidence.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) had its target price lowered by equities research analysts at Stephens from $27.00 to $24.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the bank's stock. Stephens' price objective would suggest a potential upside of 24.03% from the company's previous close.

Several other brokerages also recently issued reports on CIVB. DA Davidson set a $26.00 price objective on shares of Civista Bancshares and gave the stock a "buy" rating in a research note on Monday, July 14th. Piper Sandler lifted their price target 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. Keefe, Bruyette & Woods lifted their price target on shares of Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.80.

Civista Bancshares Price Performance

CIVB stock traded down $0.12 during trading on Tuesday, reaching $19.35. The company's stock had a trading volume of 167,213 shares, compared to its average volume of 106,042. Civista Bancshares has a 1 year low of $14.90 and a 1 year high of $25.59. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $300.31 million, a P/E ratio of 7.65 and a beta of 0.73. The company's fifty day moving average is $22.25 and its 200-day moving average is $21.32.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $43.07 million. Civista Bancshares had a net margin of 15.83% and a return on equity of 9.83%. On average, research analysts expect that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Civista Bancshares

In other news, Director Nathan E. Weaks purchased 2,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were acquired at an average cost of $19.88 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Darci L. Congrove purchased 1,250 shares of the business's stock in a transaction on Friday, July 11th. The stock was purchased at an average cost of $21.25 per share, for a total transaction of $26,562.50. Following the completion of the acquisition, the director directly owned 1,250 shares of the company's stock, valued at approximately $26,562.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 14,242 shares of company stock valued at $298,003. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Civista Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Civista Bancshares by 43.7% during the first quarter. CWM LLC now owns 3,084 shares of the bank's stock worth $60,000 after buying an additional 938 shares during the period. GAMMA Investing LLC lifted its stake in shares of Civista Bancshares by 4,003.0% during the first quarter. GAMMA Investing LLC now owns 4,103 shares of the bank's stock worth $80,000 after buying an additional 4,003 shares during the period. Public Employees Retirement System of Ohio lifted its stake 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 lifted its stake in shares of Civista Bancshares by 77.0% during the fourth quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock worth $162,000 after buying an additional 3,347 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Civista Bancshares by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank's stock worth $189,000 after buying an additional 1,960 shares during the period. 52.10% of the stock is owned by hedge funds and other institutional investors.

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.