Piper Sandler Issues Positive Forecast for Civista Bancshares (NASDAQ:CIVB) Stock Price

Civista Bancshares (NASDAQ:CIVB - Get Free Report) had its target price increased by research analysts at Piper Sandler from $23.00 to $24.00 in a report released on Monday,Benzinga reports. The firm presently has a "neutral" rating on the bank's stock. Piper Sandler's price target would indicate a potential upside of 9.46% from the company's current price.

CIVB has been the topic of several other reports. DA Davidson set a $27.00 target price on Civista Bancshares in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday. StockNews.com raised Civista Bancshares from a "hold" rating to a "buy" rating in a research note on Saturday, February 22nd. Finally, Stephens upped their price target on shares of Civista Bancshares from $24.00 to $25.00 and gave the company an "equal weight" rating in a report on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $25.20.

Civista Bancshares Trading Up 4.1 %

Shares of Civista Bancshares stock traded up $0.87 during trading on Monday, reaching $21.93. 22,630 shares of the company were exchanged, compared to its average volume of 48,026. Civista Bancshares has a twelve month low of $13.60 and a twelve month high of $23.70. The business has a 50-day moving average price of $19.79 and a 200-day moving average price of $20.64. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $339.38 million, a price-to-earnings ratio of 10.85 and a beta of 0.67.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.16. The company had revenue of $40.63 million during the quarter, compared to analysts' expectations of $40.33 million. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. Sell-side analysts anticipate that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Civista Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in Civista Bancshares by 1.1% during the third quarter. State Street Corp now owns 298,557 shares of the bank's stock worth $5,320,000 after acquiring an additional 3,112 shares in the last quarter. Jane Street Group LLC boosted its stake in Civista Bancshares by 24.2% in the 3rd quarter. Jane Street Group LLC now owns 20,215 shares of the bank's stock valued at $360,000 after purchasing an additional 3,934 shares during the period. Barclays PLC grew its position in Civista Bancshares by 40.7% during the third quarter. Barclays PLC now owns 51,521 shares of the bank's stock worth $917,000 after buying an additional 14,909 shares in the last quarter. Geode Capital Management LLC lifted its position in Civista Bancshares by 2.8% during the third quarter. Geode Capital Management LLC now owns 348,352 shares of the bank's stock worth $6,208,000 after purchasing an additional 9,501 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Civista Bancshares by 90.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 25,438 shares of the bank's stock valued at $453,000 after buying an additional 12,059 shares in the last quarter. Institutional investors own 52.10% of the company's stock.

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.

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