Civista Bancshares, Inc. (CIVB) To Go Ex-Dividend on May 6th

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

Civista Bancshares has raised its dividend payment 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 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 Trading Down 0.4 %

Civista Bancshares stock traded down $0.05 during midday trading on Friday, hitting $14.22. 30,003 shares of the stock were exchanged, compared to its average volume of 27,827. Civista Bancshares has a 52 week low of $13.99 and a 52 week high of $19.80. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $223.11 million, a PE ratio of 6.10 and a beta of 0.79. The company has a fifty day simple moving average of $14.84 and a two-hundred day simple moving average of $15.88.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The firm had revenue of $58.63 million during the quarter, compared to the consensus estimate of $38.01 million. Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. During the same quarter in the prior year, the company earned $0.82 EPS. Equities research analysts anticipate that Civista Bancshares will post 1.99 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael D. Mulford purchased 2,000 shares of Civista Bancshares stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $15.82 per share, with a total value of $31,640.00. Following the completion of the transaction, the senior vice president now owns 2,000 shares of the company’s stock, valued at approximately $31,640. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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