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

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 given a dividend of 0.16 per share by the bank on Wednesday, May 22nd. This represents a $0.64 annualized dividend and a dividend 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 annually for the last 1 consecutive years. Civista Bancshares has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.4 %

Shares of CIVB traded down $0.05 during midday trading on Friday, reaching $14.22. 30,003 shares of the stock were exchanged, compared to its average volume of 27,827. The firm has a 50 day simple moving average of $14.84 and a 200-day simple moving average of $15.88. 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 $223.11 million, a price-to-earnings ratio of 6.10 and a beta of 0.79. 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 (NASDAQ:CIVB) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.06). Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. The business had revenue of $58.63 million during the quarter, compared to analyst estimates of $38.01 million. During the same period in the previous year, the firm posted $0.82 EPS. Research analysts forecast that Civista Bancshares will post 1.99 EPS for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Civista Bancshares

In other Civista Bancshares news, SVP Michael D. Mulford bought 2,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average price of $15.82 per share, with a total value of $31,640.00. Following the completion of the purchase, the senior vice president now directly owns 2,000 shares in the company, valued at approximately $31,640. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.01% of the stock is owned by insiders.

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.