Civista Bancshares (NASDAQ:CIVB) Announces Quarterly Earnings Results

Civista Bancshares (NASDAQ:CIVB) issued its quarterly earnings data on Thursday. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10, Zacks reports. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%.

Civista Bancshares Price Performance

CIVB stock traded up $0.25 during trading on Thursday, hitting $21.76. The stock had a trading volume of 8,598 shares, compared to its average volume of 44,888. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. Civista Bancshares has a twelve month low of $13.60 and a twelve month high of $23.69. The stock has a market capitalization of $342.42 million, a P/E ratio of 10.81 and a beta of 0.82. The company’s 50-day moving average price is $21.52 and its two-hundred day moving average price is $19.28.

Civista Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, February 4th. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 3.13%. Civista Bancshares’s dividend payout ratio (DPR) is currently 31.84%.

Analysts Set New Price Targets

Several research firms recently commented on CIVB. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stephens increased their price target on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Civista Bancshares has an average rating of “Moderate Buy” and an average target price of $21.75.

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.