Civista Bancshares (NASDAQ:CIVB) Upgraded by Boenning Scattergood to “Outperform”

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Boenning Scattergood upgraded shares of Civista Bancshares (NASDAQ:CIVB) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday morning, Benzinga reports. Boenning Scattergood currently has $25.00 target price on the bank’s stock. Boenning Scattergood also issued estimates for Civista Bancshares’ Q1 2020 earnings at $0.55 EPS, Q2 2020 earnings at $0.48 EPS, Q3 2020 earnings at $0.48 EPS, Q4 2020 earnings at $0.50 EPS, FY2020 earnings at $2.02 EPS and FY2021 earnings at $2.10 EPS.

Several other research firms have also issued reports on CIVB. DA Davidson restated a buy rating on shares of Civista Bancshares in a report on Monday, November 18th. BidaskClub lowered shares of Civista Bancshares from a buy rating to a hold rating in a report on Tuesday, January 7th. ValuEngine upgraded shares of Civista Bancshares from a strong sell rating to a sell rating in a report on Friday, February 7th. Finally, Zacks Investment Research upgraded shares of Civista Bancshares from a sell rating to a hold rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $25.00.

Civista Bancshares stock opened at $22.13 on Tuesday. The firm has a 50-day moving average price of $22.89 and a 200-day moving average price of $22.03. The firm has a market capitalization of $348.13 million, a PE ratio of 11.19 and a beta of 0.85. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83. Civista Bancshares has a 12-month low of $19.00 and a 12-month high of $24.32.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Friday, February 7th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.01). The firm had revenue of $26.85 million during the quarter, compared to the consensus estimate of $26.70 million. Civista Bancshares had a return on equity of 10.83% and a net margin of 28.12%. As a group, sell-side analysts predict that Civista Bancshares will post 2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, February 1st. Investors of record on Tuesday, January 21st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $0.44 dividend on an annualized basis and a yield of 1.99%. Civista Bancshares’s payout ratio is 21.89%.

In related news, Director Harry Singer acquired 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average price of $21.20 per share, for a total transaction of $25,440.00. Following the acquisition, the director now directly owns 3,726 shares of the company’s stock, valued at approximately $78,991.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.45% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its holdings in Civista Bancshares by 243.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,529 shares of the bank’s stock valued at $33,000 after buying an additional 1,084 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Civista Bancshares during the 4th quarter valued at about $34,000. Bessemer Group Inc. bought a new stake in Civista Bancshares during the 4th quarter valued at about $72,000. Citigroup Inc. lifted its holdings in Civista Bancshares by 59.2% during the 4th quarter. Citigroup Inc. now owns 3,083 shares of the bank’s stock valued at $74,000 after buying an additional 1,146 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Civista Bancshares by 19.6% during the 4th quarter. Bank of Montreal Can now owns 3,378 shares of the bank’s stock valued at $81,000 after buying an additional 554 shares in the last quarter. Institutional investors own 56.42% 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.

See Also: Debt-To-Equity Ratio

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