Zacks Investment Research downgrades Civista Bancshares (NASDAQ: CIVB) for sale

Civista Bancshares (NASDAQ: CIVB) has been downgraded from Zacks investment research from a “keep” note to a “sell” note in a research note published on Monday, reports.

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

NASDAQ: CIVB traded up $ 0.26 during trading hours on Monday, reaching $ 24.66. 42,686 shares of the company traded hands, compared to its average volume of 43,852. The company has a market cap of $ 370.54 million, a PE ratio of 9.67 and a beta of 0.93. Civista Bancshares has a twelve month low of $ 16.46 and a twelve month high of $ 25.94. The 50-day moving average price of the stock is $ 24.59. The company has a leverage ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.90.

Civista Bancshares (NASDAQ: CIVB) last reported its quarterly results on Tuesday, October 26. The bank reported earnings per share (EPS) of $ 0.64 for the quarter, beating analysts’ consensus estimates of $ 0.62 per $ 0.02. Civista Bancshares had a net margin of 29.43% and a return on equity of 11.35%. The company posted revenue of $ 30.86 million in the quarter, compared to analysts’ expectations of $ 30.90 million. In the same quarter of the previous year, the company posted EPS of $ 0.48. On average, analysts expect Civista Bancshares to post 2.58 EPS for the current year.

Large investors have recently changed their holdings in the company. Bank of New York Mellon Corp increased its stake in Civista Bancshares by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 84,947 shares of the bank valued at $ 1,973,000 after purchasing an additional 2,460 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Civista Bancshares by 102.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,957 shares of the bank valued at $ 92,000 after purchasing an additional 2,003 shares during the last quarter. UBS Group AG increased its stake in Civista Bancshares by 55.8% in the 3rd quarter. UBS Group AG now owns 7,991 shares of the bank valued at $ 186,000 after purchasing an additional 2,862 shares in the last quarter. Metropolitan Life Insurance Co NY increased its stake in Civista Bancshares by 71.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 4,004 shares of the bank valued at $ 93,000 after purchasing an additional 1,663 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Civista Bancshares by 145.0% in the 3rd quarter. Millennium Management LLC now owns 47,205 shares of the bank valued at $ 1,097,000 after purchasing an additional 27,937 shares in the last quarter. 53.89% of the shares are currently held by hedge funds and other institutional investors.

(A d)

As of December 13, 2021, Bitcoin was over $ 40,000. In fact, some experts believe that Bitcoin could replace gold in the future.
But most people aren’t even aware of these 5 stocks in the crypto space …

About Civista Bancshares

Civista Bancshares, Inc. is a financial holding company, which engages in community banking activities. It provides financial services through its offices in Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland. The Company’s primary deposit products are chequing, savings and term accounts, and its lending products are residential, commercial and installment mortgages.

Further reading: What is systematic risk?

Get a free copy of Zacks’ research report on Civista Bancshares (CIVB)

For more information on Zacks Investment Research’s research offerings, visit

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Civista Bancshares now?

Before you consider Civista Bancshares, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of… and Civista Bancshares was not on the list.

While Civista Bancshares currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here

Source link

Comments are closed.