Civista Bancshares (NASDAQ:CIVB) Rating Reiterated by DA Davidson

DA Davidson reiterated their buy rating on shares of Civista Bancshares (NASDAQ:CIVB) in a research report released on Wednesday, PriceTargets.com reports. DA Davidson also issued estimates for Civista Bancshares’ FY2022 earnings at $2.12 EPS.

Separately, Zacks Investment Research cut Civista Bancshares from a hold rating to a sell rating in a report on Monday, January 3rd.

Shares of NASDAQ:CIVB opened at $25.03 on Wednesday. The business’s fifty day moving average price is $24.61 and its two-hundred day moving average price is $23.73. The stock has a market cap of $376.20 million, a PE ratio of 9.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 0.90. Civista Bancshares has a one year low of $16.46 and a one year high of $25.94.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, October 26th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. Civista Bancshares had a return on equity of 11.35% and a net margin of 29.43%. The business had revenue of $30.86 million for the quarter, compared to analysts’ expectations of $30.90 million. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, equities research analysts predict that Civista Bancshares will post 2.58 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC raised its position in Civista Bancshares by 6.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 106,560 shares of the bank’s stock valued at $2,355,000 after purchasing an additional 6,900 shares during the period. Goldman Sachs Group Inc. raised its position in Civista Bancshares by 17.2% in the second quarter. Goldman Sachs Group Inc. now owns 64,382 shares of the bank’s stock valued at $1,423,000 after purchasing an additional 9,458 shares during the period. Commonwealth Equity Services LLC raised its position in Civista Bancshares by 9.2% in the second quarter. Commonwealth Equity Services LLC now owns 25,042 shares of the bank’s stock valued at $553,000 after purchasing an additional 2,115 shares during the period. WINTON GROUP Ltd increased its position in shares of Civista Bancshares by 10.0% during the second quarter. WINTON GROUP Ltd now owns 15,667 shares of the bank’s stock worth $346,000 after acquiring an additional 1,423 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of Civista Bancshares during the second quarter worth about $215,000. 52.44% of the stock is currently owned by institutional investors.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company, which engages in the community banking business. It provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland. The firm’s primary deposit products are checking, savings, and term certificate accounts, and its lending products are residential mortgage, commercial and installment loans.

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