Civista Bancshares (NASDAQ:CIVB) Announces Earnings Results

Civista Bancshares (NASDAQ:CIVB) issued its quarterly earnings results on Tuesday. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09, Yahoo Finance reports. 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 analyst estimates of $37.60 million. During the same quarter in the prior year, the firm earned $0.66 EPS.

Civista Bancshares Price Performance

CIVB opened at $20.37 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $17.62 and its 200 day simple moving average is $16.08. The firm has a market cap of $320.62 million, a price-to-earnings ratio of 10.13 and a beta of 0.80. Civista Bancshares has a 1 year low of $13.60 and a 1 year high of $20.93.

Civista Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, November 5th. Civista Bancshares’s dividend payout ratio (DPR) is presently 31.84%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CIVB. Keefe, Bruyette & Woods restated an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Piper Sandler raised their price objective on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Wednesday. Finally, Stephens lifted 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 note on Wednesday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Insider Buying and Selling at Civista Bancshares

In other news, Director Julie A. Mattlin bought 2,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the completion of the acquisition, the director now owns 12,442 shares of the company’s stock, valued at approximately $194,095.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.01% of the company’s stock.

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.