Noteworthy Price Action: Civista Bancshares Inc Gaps Up; Strong Momentum for Buyers

Noteworthy Price Action: Civista Bancshares Inc Gaps Up; Strong Momentum for Buyers

The stock of Civista Bancshares Inc (NASDAQ:CIVB) gapped up by $0.06 today and has $27.12 target or 82.00% above today’s $14.90 share price. The 9 months technical chart setup indicates low risk for the $120.12 million company. The gap was reported on Oct, 4 by Barchart.com. If the $27.12 price target is reached, the company will be worth $98.50M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 5.08% or $0.72 on October 3, hitting $14.9. About 79,939 shares traded hands or 403.84% up from the average. Civista Bancshares Inc (NASDAQ:CIVB) has risen 45.08% since March 1, 2016 and is uptrending. It has outperformed by 32.87% the S&P500.

Analysts await Civista Bancshares Inc (NASDAQ:CIVB) to report earnings on October, 28.

According to Zacks Investment Research, “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.”

Another recent and important Civista Bancshares Inc (NASDAQ:CIVB) news was published by Prnewswire.com which published an article titled: “First Citizens Banc Corp renames itself Civista Bancshares, Inc.” on May 01, 2015.

CIVB Company Profile

Civista Bancshares, Inc., incorporated on February 19, 1987, is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services. The Company’s subsidiaries include First Citizens Insurance Agency, Inc., Water Street Properties, First Citizens Investments, Inc., FC Refund Solutions, Inc. (FCRS) and First Citizens Capital LLC.

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