Civista Bancshares, Inc. (CIVB) To Go Ex-Dividend on May 6th

Civista Bancshares, Inc. (NASDAQ:CIVB) declared a quarterly dividend on Friday, April 26th, investing.com reports. Shareholders of record on Tuesday, May 7th will be given 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 of this dividend is Monday, May 6th.

Civista Bancshares has raised its dividend payment by an average of 11.5% per year over the last three years and has increased 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. Equities 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 Trading Down 0.4 %

CIVB stock traded down $0.05 during mid-day trading on Friday, reaching $14.22. 30,003 shares of the stock traded hands, compared to its average volume of 27,827. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.22. The company has a market cap of $223.11 million, a P/E ratio of 6.10 and a beta of 0.79. Civista Bancshares has a 52-week low of $13.99 and a 52-week high of $19.80. The stock’s fifty day moving average is $14.84 and its 200-day moving average is $15.88.

Civista Bancshares (NASDAQ:CIVB) last issued 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). The business had revenue of $58.63 million for the quarter, compared to analysts’ expectations of $38.01 million. Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. During the same quarter in the prior year, the firm posted $0.82 EPS. As a group, sell-side analysts expect that Civista Bancshares will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CIVB. TheStreet downgraded shares of Civista Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, March 7th. Stephens reduced their price objective on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th. Piper Sandler initiated coverage on Civista Bancshares in a research report on Wednesday, February 21st. They issued a “neutral” rating and a $18.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price target (down from $21.00) on shares of Civista Bancshares in a research note on Wednesday. Finally, Hovde Group initiated coverage on Civista Bancshares in a research note on Monday, April 1st. They issued a “market perform” rating and a $16.00 price target for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.75.

Insider Buying and Selling

In other Civista Bancshares news, SVP Michael D. Mulford acquired 2,000 shares of Civista Bancshares stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of $15.82 per share, with a total value of $31,640.00. Following the completion of the transaction, the senior vice president now owns 2,000 shares of the company’s stock, valued at $31,640. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.01% of the stock is owned by insiders.

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.