Civista Bancshares (NASDAQ:CIVB) Releases Earnings Results, Misses Expectations By $0.06 EPS

Civista Bancshares (NASDAQ:CIVB) posted its quarterly earnings results on Tuesday. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06), Yahoo Finance reports. The firm had revenue of $58.63 million during the quarter, compared to analyst estimates of $38.01 million. Civista Bancshares had a return on equity of 12.26% and a net margin of 19.85%. During the same quarter last year, the business posted $0.82 earnings per share.

Civista Bancshares Stock Up 0.4 %

Shares of Civista Bancshares stock traded up $0.06 on Wednesday, hitting $14.34. 7,042 shares of the company traded hands, compared to its average volume of 28,066. The company has a 50-day moving average price of $14.88 and a 200 day moving average price of $15.90. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.22. Civista Bancshares has a 12-month low of $13.99 and a 12-month high of $19.80. The company has a market cap of $224.99 million, a PE ratio of 5.22 and a beta of 0.78.

Civista Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Monday, May 6th. Civista Bancshares’s dividend payout ratio (DPR) is currently 23.36%.

Insider Activity

In other Civista Bancshares news, SVP Michael D. Mulford acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $15.82 per share, for a total transaction of $31,640.00. Following the completion of the acquisition, the senior vice president now owns 2,000 shares of the company’s stock, valued at approximately $31,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler initiated coverage on Civista Bancshares in a research note on Wednesday, February 21st. They issued a “neutral” rating and a $18.00 target price for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 price objective (down from $21.00) on shares of Civista Bancshares in a research report on Wednesday. Stephens dropped their target price on Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. TheStreet cut Civista Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, March 7th. Finally, Hovde Group initiated coverage on Civista Bancshares in a report on Monday, April 1st. They set a “market perform” rating and a $16.00 target price on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Civista Bancshares has an average rating of “Hold” and an average price target of $17.75.

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.