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

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

Civista Bancshares has increased its dividend by an average of 11.5% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Civista Bancshares has a payout ratio of 31.7% meaning 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 Price Performance

Civista Bancshares stock traded down $0.05 during mid-day trading on Friday, hitting $14.22. 30,003 shares of the company traded hands, compared to its average volume of 27,827. The stock has a fifty day moving average price of $14.84 and a 200-day moving average price of $15.88. The stock has a market cap of $223.11 million, a price-to-earnings ratio of 6.10 and a beta of 0.79. Civista Bancshares has a one year low of $13.99 and a one year high of $19.80. 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 (NASDAQ:CIVB) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. The firm had revenue of $58.63 million for the quarter, compared to analysts’ expectations of $38.01 million. During the same quarter in the previous year, the business earned $0.82 EPS. On average, equities analysts predict that Civista Bancshares will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Civista Bancshares

In related news, SVP Michael D. Mulford purchased 2,000 shares of Civista Bancshares stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $15.82 per share, for a total transaction of $31,640.00. Following the completion of the transaction, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $31,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CIVB shares. Piper Sandler assumed coverage on shares of Civista Bancshares in a research note on Wednesday, February 21st. They set a “neutral” rating and a $18.00 price target on the stock. Hovde Group started 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 on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price objective (down from $21.00) on shares of Civista Bancshares in a research note on Wednesday. Stephens dropped their target price on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Finally, TheStreet cut Civista Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.