Civista Bancshares (NASDAQ: CIVB) was downgraded from Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released on Monday, Zacks.com reported.

According to Zacks, “Civista Bancshares, Inc. is a bank holding company. The company operates in the community banking business through its subsidiaries. Its main operations are in Ohio. Civista Bancshares, Inc., formerly known as First Citizens Banc Corp, is based in SANDUSKY, USA. “

NASDAQ: CIVB traded up $ 0.26 during Monday’s trading hours to hit $ 24.66. 42,686 shares of the company were traded, compared with an average volume of 43,852. The company has a market cap of $ 370.54 million, a P / E 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 for 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 announced its quarterly earnings data on Tuesday, October 26th. The bank reported earnings per share (EPS) for the quarter of $ 0.64, beating analysts’ consensus estimate of $ 0.62 by $ 0.02. Civista Bancshares had a net margin of 29.43% and a return on equity of 11.35%. The company had revenue of $ 30.86 million for the quarter, compared to analyst expectations of $ 30.90 million. In the same quarter last year, the company achieved $ 0.48 EPS. On average, analysts expect Civista Bancshares to post 2.58 EPS for the current year.

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

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company engaged in community banking. The company provides financial services through its offices in Erie, Crawford, Champaign, Franklin, Logan, Summit, Huron, Ottawa, Madison, Union and Richland counties of Ohio. The company’s primary deposit products are checking accounts, savings accounts, and term accounts, and its loan products are mortgage, commercial, and residential real estate installment loans.

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