Civista Bancshares (NASDAQ:CIVB) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.70 and traded as high as $27.30. Civista Bancshares shares last traded at $26.98, with a volume of 222,854 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Piper Sandler raised their price target on shares of Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, July 27th. DA Davidson boosted their price objective on shares of Civista Bancshares from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 target price (up from $29.00) on shares of Civista Bancshares in a research report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.25.

Civista Bancshares Stock Up 1.7%

The firm’s 50-day moving average is $28.23 and its 200 day moving average is $25.72. The firm has a market capitalization of $570.35 million, a P/E ratio of 10.16 and a beta of 0.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.94 and a current ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Civista Bancshares had a return on equity of 10.65% and a net margin of 20.79%.The company had revenue of $47.60 million for the quarter, compared to analysts’ expectations of $48.08 million. As a group, equities research analysts predict that Civista Bancshares, Inc. will post 2.83 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 4th. Civista Bancshares’s dividend payout ratio is 26.67%.

Hedge Funds Weigh In On Civista Bancshares

Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in shares of Civista Bancshares by 57.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after purchasing an additional 481 shares during the period. Federated Hermes Inc. raised its stake in Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after buying an additional 1,015 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Civista Bancshares by 628.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after acquiring an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Civista Bancshares by 111.4% in the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after purchasing an additional 2,107 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Civista Bancshares in the second quarter worth $85,000. 52.10% of the stock is currently owned by institutional investors.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.