Civista Bancshares (NASDAQ:CIVB) Issues Quarterly Earnings Results

Civista Bancshares (NASDAQ:CIVB) announced its earnings results on Thursday. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07, Zacks reports. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%.

Civista Bancshares Stock Performance

CIVB stock opened at $27.30 on Thursday. The firm has a 50 day moving average of $27.19 and a two-hundred day moving average of $26.73. Civista Bancshares has a 12 month low of $20.87 and a 12 month high of $29.97. The company has a market capitalization of $567.57 million, a price-to-earnings ratio of 10.11 and a beta of 0.66. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.41.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Tuesday, November 3rd will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, November 3rd. Civista Bancshares’s payout ratio is currently 26.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. DA Davidson increased their target price on Civista Bancshares from $31.00 to $33.00 and gave the company a “buy” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a report on Friday, October 2nd. Piper Sandler lifted their price target on Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Zacks Research lowered Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 price target (up from $29.00) on shares of Civista Bancshares in a research report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Civista Bancshares has a consensus rating of “Moderate Buy” and an average price target of $30.25.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. It operates primarily through Civista Bank, a community banking institution that provides financial services to individuals, families, businesses and public-sector organizations.

Civista Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate, consumer, agricultural and commercial loans.