Civista Bancshares, Inc. (NASDAQ:CIVB) Announces Dividend Increase – $0.17 Per Share

Civista Bancshares, Inc. (NASDAQ:CIVB) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Tuesday, February 4th will be paid a dividend of 0.17 per share by the bank on Tuesday, February 18th. This represents a $0.68 annualized dividend and a yield of 3.19%. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.16.

Civista Bancshares has raised its dividend payment by an average of 7.2% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Civista Bancshares has a dividend payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Civista Bancshares to earn $2.08 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 30.8%.

Civista Bancshares Stock Up 2.0 %

Shares of NASDAQ CIVB opened at $21.30 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $335.26 million, a P/E ratio of 10.60 and a beta of 0.82. Civista Bancshares has a 1 year low of $13.60 and a 1 year high of $23.69. The company has a 50-day moving average price of $21.69 and a 200-day moving average price of $18.99.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.09. The business had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. During the same quarter in the prior year, the company posted $0.66 EPS. On average, equities research analysts forecast that Civista Bancshares will post 1.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CIVB. Hovde Group raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price objective on Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stephens increased their price objective on Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

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.