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

Civista Bancshares (NASDAQ:CIVB) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $22.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 8.98% from the company’s previous close.

Several other equities research analysts also recently issued reports on CIVB. Stephens raised their price target on Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Hovde Group raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Civista Bancshares presently has an average rating of “Moderate Buy” and an average target price of $21.75.

Civista Bancshares Price Performance

NASDAQ:CIVB opened at $22.94 on Wednesday. The stock has a market capitalization of $361.08 million, a PE ratio of 11.41 and a beta of 0.81. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $20.28 and a 200 day simple moving average of $17.44. Civista Bancshares has a 1-year low of $13.60 and a 1-year high of $23.69.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. 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 company earned $0.66 earnings per share. On average, research analysts expect that Civista Bancshares will post 1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Civista Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its stake in 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 buying an additional 35,968 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Civista Bancshares by 30.9% during the 2nd quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock worth $318,000 after acquiring an additional 4,985 shares in the last quarter. Vanguard Group Inc. increased its stake in Civista Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock valued at $12,501,000 after acquiring an additional 8,797 shares during the last quarter. Inspire Investing LLC acquired a new position in Civista Bancshares during the third quarter valued at approximately $926,000. Finally, Bank of New York Mellon Corp lifted its stake in Civista Bancshares by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock worth $1,831,000 after purchasing an additional 4,284 shares during the last quarter. 52.10% of the stock is owned by institutional investors and hedge funds.

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.