Civista Bancshares (NASDAQ:CIVB) Lowered to “Sell” at Zacks Investment Research

Civista Bancshares (NASDAQ:CIVB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Civista Bancshares, Inc. is a bank holding company. The Company is involved in the business of community banking, through its subsidiaries. It operates primarily in Ohio. Civista Bancshares, Inc., formerly known as First Citizens Banc Corp, is based in SANDUSKY, United States. “

CIVB has been the topic of several other research reports. DA Davidson upgraded Civista Bancshares from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Boenning Scattergood reiterated a “hold” rating on shares of Civista Bancshares in a research report on Friday, July 26th. Keefe, Bruyette & Woods cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $26.00 target price on the stock. in a research report on Sunday, July 7th. BidaskClub upgraded Civista Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, ValuEngine cut Civista Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.00.



NASDAQ CIVB traded up $0.10 on Wednesday, hitting $21.90. 24,508 shares of the company’s stock were exchanged, compared to its average volume of 35,283. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50-day moving average price is $21.09 and its two-hundred day moving average price is $21.66. Civista Bancshares has a fifty-two week low of $15.55 and a fifty-two week high of $24.78. The firm has a market cap of $342.74 million, a price-to-earnings ratio of 11.84 and a beta of 0.79.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Friday, July 26th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Civista Bancshares had a return on equity of 10.51% and a net margin of 20.31%. The company had revenue of $26.85 million for the quarter, compared to analysts’ expectations of $26.62 million. On average, research analysts predict that Civista Bancshares will post 2 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIVB. BNP Paribas Arbitrage SA grew its holdings in shares of Civista Bancshares by 893.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,952 shares of the bank’s stock worth $64,000 after acquiring an additional 2,655 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Civista Bancshares by 62.7% in the 1st quarter. Victory Capital Management Inc. now owns 56,950 shares of the bank’s stock worth $1,243,000 after acquiring an additional 21,950 shares during the period. Pacific Ridge Capital Partners LLC acquired a new stake in shares of Civista Bancshares in the 1st quarter worth approximately $3,114,000. Castine Capital Management LLC grew its holdings in shares of Civista Bancshares by 1.7% in the 1st quarter. Castine Capital Management LLC now owns 522,092 shares of the bank’s stock worth $11,397,000 after acquiring an additional 8,832 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Civista Bancshares in the 2nd quarter worth approximately $711,000. Institutional investors and hedge funds own 54.69% of the company’s stock.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.

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