Civista Bancshares (NASDAQ:CIVB) Rating Increased to Outperform at Hovde Group

Hovde Group upgraded shares of Civista Bancshares (NASDAQ:CIVB) from a market perform rating to an outperform rating in a research report released on Wednesday morning, MarketBeat.com reports. Hovde Group currently has $22.00 price objective on the bank’s stock.

Other analysts also recently issued research reports about the stock. Piper Sandler lifted their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Civista Bancshares has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Civista Bancshares Stock Down 0.0 %

NASDAQ CIVB opened at $20.36 on Wednesday. Civista Bancshares has a 52 week low of $13.60 and a 52 week high of $20.93. The firm has a market capitalization of $320.47 million, a price-to-earnings ratio of 10.13 and a beta of 0.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.64. The company has a fifty day moving average of $17.69 and a two-hundred day moving average of $16.12.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.46% and a net margin of 13.12%. The business had revenue of $62.43 million during the quarter, compared to analyst estimates of $37.60 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, analysts predict that Civista Bancshares will post 1.76 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Tuesday, November 5th. Civista Bancshares’s payout ratio is currently 31.84%.

Insider Activity

In other Civista Bancshares news, Director Julie A. Mattlin acquired 2,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average price of $15.60 per share, with a total value of $31,200.00. Following the transaction, the director now directly owns 12,442 shares of the company’s stock, valued at $194,095.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC lifted its position in Civista Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,169 shares of the bank’s stock worth $679,000 after acquiring an additional 3,325 shares during the period. Vanguard Group Inc. boosted its position in Civista Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock valued at $12,501,000 after buying an additional 8,797 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Civista Bancshares by 30.9% in the 2nd quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock worth $318,000 after buying an additional 4,985 shares during the period. Inspire Investing LLC purchased a new position in Civista Bancshares during the 3rd quarter worth approximately $926,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Civista Bancshares by 53.3% in the 1st quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank’s stock valued at $440,000 after acquiring an additional 9,953 shares during the last quarter. Hedge funds and other 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.