Civista Bancshares (NASDAQ:CIVB) Stock Passes Above 200 Day Moving Average – Here’s Why

Civista Bancshares, Inc. (NASDAQ:CIVB)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.41 and traded as high as $25.84. Civista Bancshares shares last traded at $25.82, with a volume of 66,129 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CIVB shares. Piper Sandler raised their price target on Civista Bancshares from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Zacks Research upgraded Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Hovde Group raised their price target on Civista Bancshares from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Keefe, Bruyette & Woods raised their price target on Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Wall Street Zen upgraded Civista Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.60.

Civista Bancshares Trading Up 1.4%

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $23.96 and a two-hundred day simple moving average of $23.41. The firm has a market cap of $536.54 million, a PE ratio of 9.49 and a beta of 0.67.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%.The business had revenue of $47.25 million during the quarter, compared to analysts’ expectations of $45.64 million. Equities analysts forecast that Civista Bancshares, Inc. will post 2.84 EPS for the current year.

Civista Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were issued a $0.18 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.72 annualized dividend and a yield of 2.8%. Civista Bancshares’s dividend payout ratio (DPR) is 26.47%.

Institutional Investors Weigh In On Civista Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its stake in shares of Civista Bancshares by 57.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after purchasing an additional 481 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Civista Bancshares by 5.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock valued at $179,000 after purchasing an additional 485 shares during the period. Barclays PLC lifted its stake in shares of Civista Bancshares by 0.9% in the 3rd quarter. Barclays PLC now owns 54,603 shares of the bank’s stock valued at $1,109,000 after purchasing an additional 498 shares during the period. CWM LLC boosted its holdings in shares of Civista Bancshares by 12.1% during the 4th quarter. CWM LLC now owns 8,249 shares of the bank’s stock valued at $183,000 after buying an additional 893 shares in the last quarter. Finally, Vista Investment Management boosted its holdings in shares of Civista Bancshares by 5.3% during the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock valued at $404,000 after buying an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

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.