Civista Bancshares (NASDAQ:CIVB) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Civista Bancshares (NASDAQ:CIVB) announced its quarterly earnings results on Monday. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05, Yahoo Finance reports. Civista Bancshares had a net margin of 16.38% and a return on equity of 10.23%. The business had revenue of $61.14 million during the quarter, compared to analyst estimates of $36.57 million. During the same quarter in the previous year, the business posted $0.64 EPS.

Civista Bancshares Trading Down 8.1 %

NASDAQ CIVB opened at $17.45 on Tuesday. The business’s fifty day moving average is $15.22 and its 200-day moving average is $15.30. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $274.49 million, a price-to-earnings ratio of 7.49 and a beta of 0.82. Civista Bancshares has a one year low of $13.60 and a one year high of $19.00.

Civista Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.64 dividend on an annualized basis and a yield of 3.67%. Civista Bancshares’s dividend payout ratio (DPR) is presently 27.47%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Hovde Group initiated coverage on shares of Civista Bancshares in a research report on Monday, April 1st. They set a “market perform” rating and a $16.00 target price for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a report on Tuesday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

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.