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. Investors of record on Tuesday, May 7th will be paid a dividend of 0.16 per share by the bank on Wednesday, May 22nd. This represents a $0.64 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, May 6th.

Civista Bancshares has raised its dividend payment by an average of 11.5% annually over the last three years and has raised its dividend every year for the last 1 years. Civista Bancshares has a dividend payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NASDAQ CIVB traded down $0.05 on Friday, hitting $14.22. 30,003 shares of the company’s stock traded hands, compared to its average volume of 27,827. The firm has a market capitalization of $223.11 million, a PE ratio of 6.10 and a beta of 0.79. Civista Bancshares has a 1-year low of $13.99 and a 1-year high of $19.80. The firm’s 50-day moving average price is $14.84 and its two-hundred day moving average price is $15.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.22.

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

Wall Street Analyst Weigh In

CIVB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price objective (down previously from $21.00) on shares of Civista Bancshares in a report on Wednesday. Hovde Group began coverage on Civista Bancshares in a research report on Monday, April 1st. They set a “market perform” rating and a $16.00 price target on the stock. Stephens cut their price objective on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th. Piper Sandler initiated coverage on Civista Bancshares in a research note on Wednesday, February 21st. They set a “neutral” rating and a $18.00 target price for the company. Finally, TheStreet cut shares of Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Civista Bancshares currently has a consensus rating of “Hold” and a consensus price target of $17.75.

Insiders Place Their Bets

In other news, SVP Michael D. Mulford purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $15.82 per share, for a total transaction of $31,640.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.01% of the stock is owned by insiders.

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.