Civista Bancshares (NASDAQ:CIVB) Posts Earnings Results, Beats Estimates By $0.09 EPS

Civista Bancshares (NASDAQ:CIVB) issued its earnings results on Tuesday. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09, Yahoo Finance reports. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.46%. The firm had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. During the same quarter last year, the business posted $0.66 earnings per share.

Civista Bancshares Stock Performance

CIVB traded up $0.12 on Friday, hitting $20.37. The company’s stock had a trading volume of 59,154 shares, compared to its average volume of 46,870. The company’s 50 day simple moving average is $17.62 and its 200-day simple moving average is $16.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.64. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $20.93. The firm has a market cap of $320.62 million, a P/E ratio of 10.13 and a beta of 0.80.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, November 5th. Civista Bancshares’s payout ratio is currently 31.84%.

Insider Activity at Civista Bancshares

In other news, Director Julie A. Mattlin acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $15.60 per share, for a total transaction of $31,200.00. Following the completion of the transaction, the director now owns 12,442 shares of the company’s stock, valued at $194,095.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CIVB has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Stephens raised their target price on Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Finally, Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.25.

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.