Keefe, Bruyette & Woods Boosts Civista Bancshares (NASDAQ:CIVB) Price Target to $25.00

Civista Bancshares (NASDAQ:CIVB) had its price objective increased by research analysts at Keefe, Bruyette & Woods from $22.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 10.23% from the company’s current price.

Other research analysts have also issued research reports about the company. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Wednesday, October 30th. Stephens upped their price objective on Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

Civista Bancshares Trading Down 0.3 %

Shares of Civista Bancshares stock traded down $0.07 on Wednesday, reaching $22.68. The company had a trading volume of 11,698 shares, compared to its average volume of 41,640. The firm’s 50-day moving average price is $20.06 and its two-hundred day moving average price is $17.36. Civista Bancshares has a 1 year low of $13.60 and a 1 year high of $23.69. The firm has a market cap of $356.92 million, a price-to-earnings ratio of 11.28 and a beta of 0.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. The business had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. During the same quarter in the previous year, the business posted $0.66 earnings per share. As a group, research analysts predict that Civista Bancshares will post 1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently modified their holdings of CIVB. Los Angeles Capital Management LLC increased its holdings in Civista Bancshares by 4.4% during the third quarter. Los Angeles Capital Management LLC now owns 13,940 shares of the bank’s stock valued at $248,000 after buying an additional 589 shares during the period. Rhumbline Advisers boosted its position in Civista Bancshares by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 24,199 shares of the bank’s stock valued at $375,000 after acquiring an additional 619 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Civista Bancshares in the 3rd quarter valued at $45,000. Empowered Funds LLC raised its position in shares of Civista Bancshares by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 50,135 shares of the bank’s stock worth $893,000 after acquiring an additional 2,546 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Civista Bancshares by 5.4% during the 2nd quarter. Victory Capital Management Inc. now owns 51,650 shares of the bank’s stock worth $800,000 after purchasing an additional 2,650 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.