Civista Bancshares, Inc. (NASDAQ:CIVB) to Issue Quarterly Dividend of $0.17

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Tuesday, February 4th will be given a dividend of 0.17 per share by the bank on Tuesday, February 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from Civista Bancshares's previous quarterly dividend of $0.16.

Civista Bancshares has increased its dividend by an average of 7.2% per year over the last three years and has raised its dividend every year for the last 14 years. Civista Bancshares has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 Down 1.1 %

NASDAQ:CIVB traded down $0.24 during trading hours on Wednesday, reaching $21.06. The company's stock had a trading volume of 35,596 shares, compared to its average volume of 48,867. The stock has a 50 day moving average price of $21.65 and a two-hundred day moving average price of $19.04. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $331.48 million, a P/E ratio of 10.48 and a beta of 0.82. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $23.69.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. The firm had revenue of $62.43 million during the quarter, compared to analysts' expectations of $37.60 million. During the same period in the prior year, the business posted $0.66 EPS. Equities analysts predict that Civista Bancshares will post 1.92 EPS for the current fiscal year.

Analyst Ratings Changes

CIVB has been the subject of several recent analyst reports. Hovde Group upgraded shares of Civista Bancshares from a "market perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research note on Wednesday, October 30th. Stephens increased their price objective on Civista Bancshares from $18.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Civista Bancshares from $22.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.