Civista Bancshares (NASDAQ:CIVB) Releases Earnings Results, Misses Estimates By $0.06 EPS

Civista Bancshares (NASDAQ:CIVB) posted its earnings results on Tuesday. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06), Yahoo Finance reports. The company had revenue of $58.63 million during the quarter, compared to analysts’ expectations of $38.01 million. Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. During the same period last year, the business earned $0.82 earnings per share.

Civista Bancshares Price Performance

Shares of NASDAQ:CIVB opened at $14.28 on Thursday. The company has a market cap of $224.05 million, a price-to-earnings ratio of 6.13 and a beta of 0.79. The firm’s 50-day simple moving average is $14.86 and its 200-day simple moving average is $15.89. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.22. Civista Bancshares has a fifty-two week low of $13.99 and a fifty-two week high of $19.80.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 7th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, May 6th. Civista Bancshares’s payout ratio is 27.47%.

Insider Activity

In other news, SVP Michael D. Mulford bought 2,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of $15.82 per share, with a total value of $31,640.00. Following the completion of the acquisition, the senior vice president now directly owns 2,000 shares in the company, valued at $31,640. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Stephens dropped their target price on shares of Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. TheStreet downgraded shares of Civista Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, March 7th. Piper Sandler started coverage on shares of Civista Bancshares in a research report on Wednesday, February 21st. They set a “neutral” rating and a $18.00 price objective on the stock. Hovde Group started coverage on shares of Civista Bancshares in a research report on Monday, April 1st. They set a “market perform” rating and a $16.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $18.00 price objective (down from $21.00) on shares of Civista Bancshares in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.75.

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.