Civista Bancshares, Inc. (NASDAQ:CIVB) Declares $0.16 Quarterly Dividend

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Friday, October 25th, Zacks reports. Investors of record on Tuesday, November 5th will be given a dividend of 0.16 per share by the bank on Tuesday, November 19th. This represents a $0.64 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, November 5th.

Civista Bancshares has raised its dividend by an average of 11.5% per year over the last three years and has increased its dividend every year for the last 13 years. Civista Bancshares has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Civista Bancshares to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 34.6%.

Civista Bancshares Price Performance

CIVB stock traded down $0.01 during trading on Friday, hitting $20.36. The company had a trading volume of 36,003 shares, compared to its average volume of 47,675. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.64. The business has a 50 day moving average of $17.69 and a 200 day moving average of $16.13. Civista Bancshares has a fifty-two week low of $13.60 and a fifty-two week high of $20.93. The firm has a market capitalization of $320.47 million, a price-to-earnings ratio of 10.13 and a beta of 0.78.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.46%. The firm had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $37.60 million. During the same period in the previous year, the business earned $0.66 earnings per share. As a group, research analysts predict that Civista Bancshares will post 1.8 earnings per share for the current year.

Insiders Place Their Bets

In other Civista Bancshares news, Director Julie A. Mattlin bought 2,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $15.60 per share, with a total value of $31,200.00. Following the purchase, the director now directly owns 12,442 shares in the company, valued at $194,095.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CIVB shares. Stephens boosted their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Piper Sandler boosted their price objective on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods restated an “outperform” rating and set a $19.00 price objective (up previously from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Finally, Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

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.