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

Civista Bancshares, Inc. (NASDAQ:CIVB) declared a quarterly dividend on Friday, April 26th, investing.com reports. Stockholders of record on Tuesday, May 7th will be given a dividend of 0.16 per share by the bank on Wednesday, May 22nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Monday, May 6th.

Civista Bancshares has increased its dividend payment by an average of 11.5% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Civista Bancshares has a payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Civista Bancshares to earn $2.04 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 31.4%.

Civista Bancshares Price Performance

NASDAQ CIVB traded down $0.05 on Friday, hitting $14.22. The stock had a trading volume of 30,003 shares, compared to its average volume of 27,827. The firm has a 50-day moving average of $14.84 and a 200-day moving average of $15.88. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 0.96. Civista Bancshares has a 52-week low of $13.99 and a 52-week high of $19.80. The company has a market capitalization of $223.11 million, a price-to-earnings ratio of 6.10 and a beta of 0.79.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The firm had revenue of $58.63 million during the quarter, compared to the consensus estimate of $38.01 million. Civista Bancshares had a return on equity of 10.36% and a net margin of 16.38%. During the same period in the previous year, the company posted $0.82 EPS. Equities analysts expect that Civista Bancshares will post 1.99 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Michael D. Mulford purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average cost of $15.82 per share, with a total value of $31,640.00. Following the purchase, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $31,640. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CIVB. TheStreet cut shares of Civista Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, March 7th. Stephens decreased their price target on shares of Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. Piper Sandler initiated coverage on shares of Civista Bancshares in a report on Wednesday, February 21st. They set a “neutral” rating and a $18.00 price objective for the company. Hovde Group assumed coverage on shares of Civista Bancshares in a research report on Monday, April 1st. They issued a “market perform” rating and a $16.00 target price for the company. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price target (down previously 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.75.

About Civista Bancshares

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.