Civista Bancshares (NASDAQ:CIVB) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Civista Bancshares (NASDAQ:CIVB) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Civista Bancshares, Inc. is a bank holding company. The Company is involved in the business of community banking, through its subsidiaries. It operates primarily in Ohio. Civista Bancshares, Inc., formerly known as First Citizens Banc Corp, is based in SANDUSKY, United States. “

CIVB has been the topic of a number of other research reports. TheStreet lowered shares of Civista Bancshares from a b- rating to a c rating in a report on Monday, April 13th. ValuEngine cut Civista Bancshares from a hold rating to a sell rating in a research note on Thursday, April 2nd. BidaskClub raised Civista Bancshares from a strong sell rating to a sell rating in a research note on Wednesday, June 10th. DA Davidson assumed coverage on Civista Bancshares in a report on Thursday, April 9th. They issued a neutral rating and a $14.00 price objective for the company. Finally, Stephens started coverage on Civista Bancshares in a report on Tuesday, July 7th. They set an overweight rating and a $19.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $18.75.

Shares of NASDAQ CIVB opened at $13.13 on Wednesday. The stock’s 50-day simple moving average is $14.49 and its two-hundred day simple moving average is $16.64. Civista Bancshares has a twelve month low of $11.62 and a twelve month high of $24.32. The firm has a market capitalization of $210.61 million, a P/E ratio of 7.25 and a beta of 0.97. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Friday, July 24th. The bank reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.11. The company had revenue of $28.93 million during the quarter, compared to analyst estimates of $27.55 million. Civista Bancshares had a return on equity of 9.16% and a net margin of 24.31%. As a group, research analysts anticipate that Civista Bancshares will post 1.69 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in CIVB. Bank of America Corp DE grew its holdings in Civista Bancshares by 4.8% in the 4th quarter. Bank of America Corp DE now owns 10,916 shares of the bank’s stock worth $261,000 after acquiring an additional 497 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Civista Bancshares by 29.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,722 shares of the bank’s stock worth $71,000 after purchasing an additional 1,063 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Civista Bancshares by 11.7% in the 1st quarter. Baird Financial Group Inc. now owns 11,265 shares of the bank’s stock worth $169,000 after purchasing an additional 1,178 shares during the period. Citigroup Inc. boosted its stake in shares of Civista Bancshares by 43.4% during the 1st quarter. Citigroup Inc. now owns 4,420 shares of the bank’s stock valued at $66,000 after purchasing an additional 1,337 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Civista Bancshares by 8.9% during the first quarter. Rhumbline Advisers now owns 25,802 shares of the bank’s stock valued at $386,000 after buying an additional 2,100 shares during the period. 53.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

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