Civista Bancshares (NASDAQ:CIVB – Get Free Report) announced its quarterly earnings results on Tuesday. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09, Yahoo Finance reports. The company had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $37.60 million. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.24%. During the same period last year, the firm posted $0.66 earnings per share.
Civista Bancshares Stock Performance
Shares of NASDAQ CIVB traded up $1.10 during mid-day trading on Wednesday, reaching $19.84. 64,097 shares of the company were exchanged, compared to its average volume of 38,608. The stock has a market capitalization of $312.02 million, a P/E ratio of 8.52 and a beta of 0.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.64. The company’s 50-day simple moving average is $17.47 and its 200-day simple moving average is $16.02. Civista Bancshares has a twelve month low of $13.60 and a twelve month high of $20.17.
Civista Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, November 5th. Civista Bancshares’s dividend payout ratio (DPR) is presently 27.47%.
Insider Buying and Selling at Civista Bancshares
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Piper Sandler boosted their price objective on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Finally, Hovde Group raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Civista Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $19.75.
Read Our Latest Stock Analysis on CIVB
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.
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