Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Civista Bancshares (NASDAQ:CIVB) Stock

Civista Bancshares (NASDAQ:CIVB) had its price target lifted by Keefe, Bruyette & Woods from $22.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 8.98% from the stock’s current price.

A number of other equities research analysts also recently weighed in on CIVB. 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 lifted their price objective on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Civista Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Civista Bancshares Price Performance

NASDAQ:CIVB opened at $22.94 on Wednesday. The firm has a market cap of $361.08 million, a PE ratio of 11.41 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $23.69. The company’s 50-day moving average price is $20.28 and its two-hundred day moving average price is $17.44.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The firm had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, equities analysts anticipate that Civista Bancshares will post 1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Civista Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Investing LLC acquired a new position in shares of Civista Bancshares in the 3rd quarter valued at approximately $926,000. Assenagon Asset Management S.A. raised its holdings in shares of Civista Bancshares by 130.8% during the third quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock worth $1,131,000 after acquiring an additional 35,968 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Civista Bancshares during the second quarter worth $323,000. Barclays PLC lifted its position in Civista Bancshares by 40.7% in the 3rd quarter. Barclays PLC now owns 51,521 shares of the bank’s stock valued at $917,000 after acquiring an additional 14,909 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after purchasing an additional 12,624 shares in the last quarter. 52.10% of the stock is owned by institutional investors.

About Civista Bancshares

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.