Civista Bancshares (NASDAQ:CIVB) Announces Earnings Results

Civista Bancshares (NASDAQ:CIVB) 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

In other news, Director Julie A. Mattlin bought 2,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the completion of the purchase, the director now owns 12,442 shares in the company, valued at approximately $194,095.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.01% of the company’s stock.

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.

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.