Weiss Ratings Reaffirms "Hold (C+)" Rating for Civista Bancshares (NASDAQ:CIVB)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for Civista Bancshares (NASDAQ:CIVB), while other analysts have issued mixed ratings, with some downgrading the stock from "Buy" to "Hold."
• Civista Bancshares shares recently traded down to $20.76, with a market capitalization of approximately $400.88 million and a current PE ratio of 8.21.
• Insiders have actively bought shares in the company over the last 90 days, acquiring a total of 14,742 shares worth $307,978, indicating confidence in the firm's future.

Civista Bancshares (NASDAQ:CIVB - Get Free Report)'s stock had its "hold (c+)" rating restated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Civista Bancshares from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Stephens decreased their price target on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 29th. Zacks Research upgraded Civista Bancshares from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Hovde Group cut Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $22.00 price target on the stock. in a research report on Monday, August 18th. Finally, DA Davidson set a $26.00 price target on Civista Bancshares and gave the company a "buy" rating in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Civista Bancshares currently has an average rating of "Hold" and an average target price of $24.80.

Civista Bancshares Trading Down 0.7%

Shares of NASDAQ:CIVB traded down $0.14 during mid-day trading on Wednesday, hitting $20.76. The company had a trading volume of 72,498 shares, compared to its average volume of 109,277. The firm has a fifty day moving average price of $20.47 and a 200 day moving average price of $21.26. The company has a market capitalization of $400.88 million, a PE ratio of 8.21 and a beta of 0.73. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.99 and a quick ratio of 0.99. Civista Bancshares has a one year low of $17.00 and a one year high of $25.59.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). The business had revenue of $41.40 million for the quarter, compared to the consensus estimate of $43.07 million. Civista Bancshares had a net margin of 15.83% and a return on equity of 9.77%. As a group, research analysts forecast that Civista Bancshares will post 2.28 EPS for the current year.

Insider Buying and Selling

In related news, Director Clyde A. Perfect, Jr. acquired 2,352 shares of the stock in a transaction dated Friday, July 11th. The shares were purchased at an average cost of $21.25 per share, with a total value of $49,980.00. Following the transaction, the director directly owned 2,352 shares in the company, valued at approximately $49,980. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nathan E. Weaks acquired 2,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of $19.88 per share, for a total transaction of $39,760.00. Following the completion of the transaction, the director owned 8,283 shares in the company, valued at approximately $164,666.04. This represents a 31.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 14,742 shares of company stock worth $307,978 in the last 90 days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Civista Bancshares

Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in Civista Bancshares by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 27,208 shares of the bank's stock valued at $532,000 after acquiring an additional 497 shares during the last quarter. CWM LLC grew its position in Civista Bancshares by 23.8% in the 2nd quarter. CWM LLC now owns 3,819 shares of the bank's stock valued at $89,000 after acquiring an additional 735 shares during the last quarter. Park National Corp OH grew its position in Civista Bancshares by 3.5% in the 2nd quarter. Park National Corp OH now owns 24,091 shares of the bank's stock valued at $559,000 after acquiring an additional 816 shares during the last quarter. Federated Hermes Inc. grew its position in Civista Bancshares by 306.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank's stock valued at $31,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Caldwell Trust Co bought a new position in Civista Bancshares in the 2nd quarter valued at $32,000. Institutional investors own 52.10% of the company's stock.

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.

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