Civista Bancshares (NASDAQ:CIVB) Downgraded to Hold Rating by StockNews.com

Civista Bancshares (NASDAQ:CIVB) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other equities research analysts also recently issued research reports about the company. Stephens reissued an “equal weight” rating and set a $24.00 price target on shares of Civista Bancshares in a research report on Friday, January 31st. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their price target on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.50.

Civista Bancshares Stock Performance

Civista Bancshares stock opened at $21.47 on Friday. The firm has a market capitalization of $337.94 million, a P/E ratio of 10.63 and a beta of 0.81. The stock has a fifty day moving average price of $21.24 and a 200 day moving average price of $19.52. Civista Bancshares has a 52 week low of $13.60 and a 52 week high of $23.69. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Thursday, January 30th. The bank reported $0.63 EPS for the quarter, beating the consensus estimate of $0.53 by $0.10. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. Equities research analysts anticipate that Civista Bancshares will post 2.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CIVB. Arrowstreet Capital Limited Partnership lifted its stake in shares of Civista Bancshares by 210.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank’s stock worth $3,152,000 after acquiring an additional 101,610 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Civista Bancshares in the fourth quarter worth about $1,774,000. American Century Companies Inc. lifted its stake in shares of Civista Bancshares by 55.0% in the fourth quarter. American Century Companies Inc. now owns 191,316 shares of the bank’s stock worth $4,025,000 after acquiring an additional 67,889 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Civista Bancshares by 271.7% in the fourth quarter. Prudential Financial Inc. now owns 53,355 shares of the bank’s stock worth $1,123,000 after acquiring an additional 39,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Civista Bancshares by 130.8% in 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 in the last quarter. Institutional investors and hedge funds 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.