Civista Bancshares, Inc. (CIVB) to Distribute Quarterly Dividend of $0.18 on November 17th

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Tuesday, October 20th. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.18 per share by the bank on Tuesday, November 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, November 3rd.

Civista Bancshares has increased its dividend payment by an average of 0.1% per year 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 24.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Civista Bancshares to earn $2.96 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 24.3%.

Civista Bancshares Stock Down 0.8%

CIVB stock opened at $28.23 on Friday. Civista Bancshares has a 52 week low of $21.10 and a 52 week high of $29.97. The company has a market capitalization of $586.90 million, a price-to-earnings ratio of 10.12 and a beta of 0.66. The firm’s 50-day moving average is $27.21 and its two-hundred day moving average is $25.82. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Thursday, October 22nd. The bank reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The firm had revenue of $49.08 million during the quarter, compared to the consensus estimate of $48.78 million. Civista Bancshares had a return on equity of 10.97% and a net margin of 21.82%. On average, analysts forecast that Civista Bancshares will post 2.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Civista Bancshares

Hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its holdings in Civista Bancshares by 7.8% during the 3rd quarter. Sterling Capital Management LLC now owns 10,504 shares of the bank’s stock worth $277,000 after acquiring an additional 764 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Civista Bancshares during the second quarter worth about $216,000. Odyssean LLC acquired a new stake in Civista Bancshares during the 2nd quarter worth approximately $431,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Civista Bancshares during the second quarter worth $85,000. Finally, Pinnacle Holdings LLC bought a new stake in shares of Civista Bancshares in the second quarter valued at about $1,663,000. Institutional investors own 52.10% of the company’s stock.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. The company operates primarily through its subsidiary, Civista Bank, a community-oriented institution that provides banking and financial services to individuals, families, businesses and agricultural customers.

Civista Bank offers deposit products, residential and commercial real estate loans, commercial and industrial financing, agricultural lending, consumer loans and other credit services. Its additional offerings include treasury management, online and mobile banking, wealth management, trust services, investment services and insurance solutions.

Through its branch network and other delivery channels, Civista serves customers in communities across Ohio, Indiana and Kentucky.