Civista Bancshares (NASDAQ:CIVB) Issues Earnings Results

Civista Bancshares (NASDAQ:CIVB) issued its quarterly earnings results on Tuesday. The bank reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06), Yahoo Finance reports. The firm had revenue of $58.63 million for the quarter, compared to the consensus estimate of $38.01 million. Civista Bancshares had a net margin of 19.85% and a return on equity of 12.26%. During the same period in the previous year, the business posted $0.82 earnings per share.

Civista Bancshares Stock Up 0.2 %

Shares of CIVB traded up $0.03 during mid-day trading on Wednesday, reaching $14.31. The company’s stock had a trading volume of 6,136 shares, compared to its average volume of 28,065. The business has a fifty day moving average of $14.88 and a 200 day moving average of $15.90. The company has a market cap of $224.52 million, a price-to-earnings ratio of 5.22 and a beta of 0.78. Civista Bancshares has a 1 year low of $13.99 and a 1 year 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.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 7th will be issued a $0.16 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.47%. Civista Bancshares’s payout ratio is currently 23.36%.

Insider Activity

In other Civista Bancshares news, SVP Michael D. Mulford bought 2,000 shares of Civista Bancshares stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $15.82 per share, for a total transaction of $31,640.00. Following the completion of the acquisition, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $31,640. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.01% of the company’s stock.

Wall Street Analyst Weigh In

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