Civista Bancshares, Inc. (NASDAQ:CIVB) Plans Dividend Increase – $0.17 Per Share

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Tuesday, February 4th will be paid a dividend of 0.17 per share by the bank on Tuesday, February 18th. This represents a $0.68 annualized dividend and a yield of 3.23%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.16.

Civista Bancshares has increased its dividend by an average of 7.2% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Civista Bancshares has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Civista Bancshares to earn $2.08 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 30.8%.

Civista Bancshares Stock Down 1.1 %

Shares of NASDAQ CIVB opened at $21.06 on Thursday. Civista Bancshares has a 1 year low of $13.60 and a 1 year high of $23.69. The firm’s 50-day moving average is $21.65 and its 200-day moving average is $19.04. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $331.48 million, a PE ratio of 10.48 and a beta of 0.82.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The firm had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $37.60 million. During the same period last year, the firm earned $0.66 earnings per share. Equities analysts expect that Civista Bancshares will post 1.92 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on CIVB. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Wednesday, October 30th. Stephens boosted their target price on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upped their price target on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.75.

Civista Bancshares Company Profile

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.