Civista Bancshares, Inc. (NASDAQ:CIVB) Announces Quarterly Dividend of $0.14

Civista Bancshares, Inc. (NASDAQ:CIVBGet Rating) announced a quarterly dividend on Friday, July 29th, Fidelity reports. Investors of record on Tuesday, August 9th will be given a dividend of 0.14 per share by the bank on Tuesday, August 23rd. This represents a $0.56 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, August 8th.

Civista Bancshares has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Civista Bancshares to earn $2.79 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 20.1%.

Civista Bancshares Stock Up 1.9 %

CIVB opened at $21.79 on Friday. Civista Bancshares has a 12 month low of $20.10 and a 12 month high of $25.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $317.92 million, a P/E ratio of 8.82 and a beta of 0.84. The stock’s 50 day moving average price is $21.38 and its 200 day moving average price is $22.57.

Civista Bancshares (NASDAQ:CIVBGet Rating) last posted its earnings results on Thursday, July 28th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. Civista Bancshares had a return on equity of 10.70% and a net margin of 28.80%. The firm had revenue of $29.90 million for the quarter, compared to analysts’ expectations of $30.90 million. During the same period last year, the firm earned $0.59 EPS. As a group, research analysts predict that Civista Bancshares will post 2.36 earnings per share for the current year.

Insider Transactions at Civista Bancshares

In related news, Director Harry Singer acquired 1,900 shares of Civista Bancshares stock in a transaction dated Friday, June 17th. The stock was acquired at an average cost of $20.90 per share, with a total value of $39,710.00. Following the purchase, the director now directly owns 8,556 shares in the company, valued at approximately $178,820.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.05% of the company’s stock.

Institutional Investors Weigh In On Civista Bancshares

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Civista Bancshares by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 680,374 shares of the bank’s stock worth $16,397,000 after acquiring an additional 4,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Civista Bancshares by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 600,664 shares of the bank’s stock worth $14,476,000 after buying an additional 26,426 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Civista Bancshares by 8.8% in the first quarter. The Manufacturers Life Insurance Company now owns 576,602 shares of the bank’s stock worth $13,896,000 after buying an additional 46,686 shares during the period. Wellington Management Group LLP boosted its position in shares of Civista Bancshares by 8.9% in the first quarter. Wellington Management Group LLP now owns 509,159 shares of the bank’s stock worth $12,271,000 after buying an additional 41,700 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Civista Bancshares by 4.1% in the first quarter. Renaissance Technologies LLC now owns 157,965 shares of the bank’s stock worth $3,807,000 after buying an additional 6,200 shares during the period. 53.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CIVB. DA Davidson reiterated a “buy” rating on shares of Civista Bancshares in a research report on Wednesday, July 27th. Hovde Group cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $25.00 price target on the stock. in a research report on Friday, July 29th. Finally, StockNews.com cut Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, May 26th.

Civista Bancshares Company Profile

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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.

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Dividend History for Civista Bancshares (NASDAQ:CIVB)

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