Civista Bancshares, Inc. (NASDAQ:CIVB) Increases Dividend to $0.18 Per Share

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Wednesday, January 28th. Stockholders of record on Tuesday, February 10th will be paid a dividend of 0.18 per share by the bank on Tuesday, February 24th. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a 5.9% increase from Civista Bancshares’s previous quarterly dividend of $0.17.

Civista Bancshares has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Civista Bancshares has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Civista Bancshares to earn $2.60 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.2%.

Civista Bancshares Trading Up 1.2%

Shares of NASDAQ:CIVB traded up $0.28 during trading on Wednesday, reaching $23.28. The company’s stock had a trading volume of 107,684 shares, compared to its average volume of 92,669. The stock has a market capitalization of $449.48 million, a PE ratio of 8.69 and a beta of 0.70. Civista Bancshares has a 12 month low of $17.47 and a 12 month high of $25.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. The firm’s 50 day simple moving average is $22.93 and its two-hundred day simple moving average is $21.56.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Wednesday, November 5th. The bank reported $0.71 earnings per share (EPS) for the quarter. The business had revenue of $44.18 million for the quarter. Civista Bancshares had a return on equity of 10.20% and a net margin of 17.42%. On average, research analysts predict that Civista Bancshares will post 2.28 EPS for the current fiscal year.

Institutional Trading of Civista Bancshares

A number of hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Civista Bancshares by 5.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock worth $179,000 after buying an additional 485 shares during the last quarter. Barclays PLC raised its holdings in shares of Civista Bancshares by 0.9% during the third quarter. Barclays PLC now owns 54,603 shares of the bank’s stock worth $1,109,000 after purchasing an additional 498 shares during the last quarter. CWM LLC lifted its position in Civista Bancshares by 23.8% during the second quarter. CWM LLC now owns 3,819 shares of the bank’s stock valued at $89,000 after purchasing an additional 735 shares during the period. Federated Hermes Inc. lifted its position in Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,015 shares during the period. Finally, Caldwell Trust Co acquired a new stake in Civista Bancshares during the 2nd quarter worth about $32,000. 52.10% of the stock is owned by hedge funds and other institutional investors.

About Civista Bancshares

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.