Keefe, Bruyette & Woods Issues Positive Forecast for Civista Bancshares (NASDAQ:CIVB) Stock Price

Civista Bancshares (NASDAQ:CIVB - Free Report) had its price objective increased by Keefe, Bruyette & Woods from $25.00 to $28.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the bank's stock.

CIVB has been the topic of several other reports. StockNews.com upgraded Civista Bancshares from a "hold" rating to a "buy" rating in a research note on Saturday, February 22nd. Stephens reaffirmed an "equal weight" rating and issued a $24.00 price target on shares of Civista Bancshares in a report on Friday, January 31st. Finally, DA Davidson set a $27.00 price objective on shares of Civista Bancshares in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Civista Bancshares presently has an average rating of "Moderate Buy" and an average target price of $25.20.

Civista Bancshares Stock Down 0.1 %

CIVB stock traded down $0.03 during mid-day trading on Friday, hitting $22.51. 44,535 shares of the company were exchanged, compared to its average volume of 43,265. The firm has a fifty day simple moving average of $19.84 and a 200 day simple moving average of $20.69. The company has a market capitalization of $348.43 million, a PE ratio of 11.14 and a beta of 0.67. Civista Bancshares has a twelve month low of $13.60 and a twelve month high of $23.69. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.16. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. The business had revenue of $40.63 million during the quarter, compared to the consensus estimate of $40.33 million. On average, research analysts forecast that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, April 29th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.02%. The ex-dividend date is Tuesday, April 29th. Civista Bancshares's dividend payout ratio (DPR) is 29.96%.

Hedge Funds Weigh In On Civista Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in CIVB. GAMMA Investing LLC raised its stake in Civista Bancshares by 4,003.0% during the 1st quarter. GAMMA Investing LLC now owns 4,103 shares of the bank's stock valued at $80,000 after acquiring an additional 4,003 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Civista Bancshares by 103.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 5,120 shares of the bank's stock valued at $108,000 after buying an additional 2,609 shares in the last quarter. SG Americas Securities LLC increased its stake in Civista Bancshares by 15.6% during the 4th quarter. SG Americas Securities LLC now owns 6,624 shares of the bank's stock valued at $139,000 after buying an additional 892 shares during the period. Deutsche Bank AG boosted its holdings in shares of Civista Bancshares by 77.0% in the fourth 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 lifted its position in Civista Bancshares by 27.8% in the fourth 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 currently owned by institutional investors and hedge funds.

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.