Civista Bancshares (NASDAQ:CIVB) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Civista Bancshares, Inc. (NASDAQ:CIVB)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.82 and traded as high as $24.14. Civista Bancshares shares last traded at $23.88, with a volume of 123,995 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CIVB shares. DA Davidson reaffirmed a “buy” rating and issued a $28.00 target price on shares of Civista Bancshares in a research note on Friday, January 30th. Keefe, Bruyette & Woods raised their price objective on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Civista Bancshares in a research note on Monday, December 29th. Hovde Group increased their price target on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Finally, Zacks Research downgraded shares of Civista Bancshares from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Civista Bancshares has a consensus rating of “Hold” and a consensus price target of $26.00.

Civista Bancshares Price Performance

The stock has a market cap of $460.62 million, a PE ratio of 8.97 and a beta of 0.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50-day moving average is $23.37 and its two-hundred day moving average is $21.85.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. Civista Bancshares had a return on equity of 11.14% and a net margin of 18.12%.The business had revenue of $46.34 million during the quarter, compared to analyst estimates of $45.43 million. On average, equities analysts predict that Civista Bancshares, Inc. will post 2.28 earnings per share for the current year.

Civista Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, February 10th. Civista Bancshares’s dividend payout ratio (DPR) is presently 27.07%.

Institutional Trading of Civista Bancshares

Several hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. increased its holdings in Civista Bancshares by 306.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares during the period. Caldwell Trust Co purchased a new position in shares of Civista Bancshares in the 2nd quarter valued at about $32,000. Osaic Holdings Inc. grew its position in shares of Civista Bancshares by 628.2% during the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after buying an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Civista Bancshares by 111.4% during the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after buying an additional 2,107 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Civista Bancshares by 23.8% during the second quarter. CWM LLC now owns 3,819 shares of the bank’s stock worth $89,000 after buying an additional 735 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

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.