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

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Friday, October 25th, Zacks reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 0.16 per share by the bank on Tuesday, November 19th. This represents a $0.64 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, November 5th.

Civista Bancshares has increased 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 13 years. Civista Bancshares has a payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Civista Bancshares to earn $1.85 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 34.6%.

Civista Bancshares Trading Down 0.0 %

Shares of CIVB stock opened at $20.36 on Friday. The company has a market capitalization of $320.47 million, a price-to-earnings ratio of 10.13 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.64. The firm has a 50-day moving average price of $17.69 and a 200 day moving average price of $16.13. Civista Bancshares has a twelve month low of $13.60 and a twelve month high of $20.93.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The business had revenue of $62.43 million during the quarter, compared to the consensus estimate of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.46%. During the same period in the previous year, the firm posted $0.66 earnings per share. Research analysts forecast that Civista Bancshares will post 1.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Sandler boosted their price target on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Stephens upped their target price on Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday. Hovde Group raised Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Wednesday. Finally, Keefe, Bruyette & Woods restated 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. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Civista Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Insider Buying and Selling at Civista Bancshares

In related news, Director Julie A. Mattlin purchased 2,000 shares of Civista Bancshares stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $15.60 per share, with a total value of $31,200.00. Following the transaction, the director now owns 12,442 shares of the company’s stock, valued at approximately $194,095.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.01% of the stock is currently owned by corporate insiders.

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.