Piper Sandler Forecasts Strong Price Appreciation for Civista Bancshares (NASDAQ:CIVB) Stock

Civista Bancshares (NASDAQ:CIVB - Get Free Report) had its target price raised by stock analysts at Piper Sandler from $23.00 to $24.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. Piper Sandler's price objective suggests a potential upside of 4.35% from the stock's current price.

CIVB has been the topic of several other research reports. DA Davidson set a $27.00 price target on Civista Bancshares in a research note on Friday, January 31st. 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 report on Friday, April 25th. StockNews.com raised shares of Civista Bancshares from a "hold" rating to a "buy" rating in a report on Saturday, February 22nd. Finally, Stephens lifted their target price on shares of Civista Bancshares from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.20.

Civista Bancshares Stock Up 2.8 %

CIVB traded up $0.63 during trading on Monday, reaching $23.00. 38,771 shares of the stock traded hands, compared to its average volume of 48,218. The stock's 50-day simple moving average is $19.95 and its two-hundred day simple moving average is $20.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. Civista Bancshares has a fifty-two week low of $13.60 and a fifty-two week high of $23.70. The stock has a market cap of $356.02 million, a price-to-earnings ratio of 11.39 and a beta of 0.69.

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

Insider Buying and Selling at Civista Bancshares

In related news, Chairman Dennis E. Murray, Jr. purchased 6,143 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were purchased at an average price of $22.44 per share, with a total value of $137,848.92. Following the completion of the purchase, the chairman now owns 19,162 shares in the company, valued at $429,995.28. This represents a 47.18 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company's stock.

Institutional Trading of Civista Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of Civista Bancshares by 1.1% during the 3rd quarter. State Street Corp now owns 298,557 shares of the bank's stock worth $5,320,000 after buying an additional 3,112 shares during 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 holdings in Civista Bancshares by 40.7% in the 3rd quarter. Barclays PLC now owns 51,521 shares of the bank's stock valued at $917,000 after buying an additional 14,909 shares in the last quarter. Geode Capital Management LLC increased its position in Civista Bancshares by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 348,352 shares of the bank's stock worth $6,208,000 after buying an additional 9,501 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Civista Bancshares by 90.1% in the third quarter. JPMorgan Chase & Co. now owns 25,438 shares of the bank's stock valued at $453,000 after acquiring an additional 12,059 shares during the period. 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.