Civista Bancshares (NASDAQ:CIVB) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Civista Bancshares (NASDAQ:CIVB) issued its quarterly earnings data on Thursday. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.10, Zacks reports. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%.

Civista Bancshares Price Performance

Shares of CIVB stock remained flat at $21.51 during trading hours on Thursday. 3,274 shares of the company were exchanged, compared to its average volume of 44,887. The stock has a 50-day moving average price of $21.52 and a two-hundred day moving average price of $19.28. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. Civista Bancshares has a 12-month low of $13.60 and a 12-month high of $23.69. The stock has a market cap of $338.57 million, a price-to-earnings ratio of 10.75 and a beta of 0.82.

Civista Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.16%. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, February 4th. Civista Bancshares’s dividend payout ratio is presently 31.84%.

Analyst Upgrades and Downgrades

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

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.