Civista Bancshares, Inc. (NASDAQ:CIVB) Declares $0.16 Quarterly Dividend

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Friday, April 26th, investing.com reports. Shareholders of record on Tuesday, May 7th will be given a dividend of 0.16 per share by the bank on Wednesday, May 22nd. This represents a $0.64 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, May 6th.

Civista Bancshares has raised its dividend by an average of 11.5% per year over the last three years and has increased its dividend every year for the last 1 years. Civista Bancshares has a dividend payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Civista Bancshares to earn $2.04 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 31.4%.

Civista Bancshares Price Performance

CIVB stock opened at $14.22 on Friday. 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 52-week low of $13.99 and a 52-week high of $19.80. The stock’s 50 day moving average is $14.82 and its two-hundred day moving average is $15.87. The company has a market capitalization of $223.11 million, a PE ratio of 6.10 and a beta of 0.79.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. The firm had revenue of $58.63 million during the quarter, compared to the consensus estimate of $38.01 million. During the same quarter last year, the firm posted $0.82 earnings per share. Analysts predict that Civista Bancshares will post 1.91 earnings per share for the current fiscal year.

Insider Activity at Civista Bancshares

In other Civista Bancshares news, SVP Michael D. Mulford purchased 2,000 shares of Civista Bancshares stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $15.82 per share, for a total transaction of $31,640.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Civista Bancshares

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.