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

Civista Bancshares (NASDAQ:CIVB - Get Free Report) released its quarterly earnings results on Thursday. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.10, Zacks reports. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%.

Civista Bancshares Trading Down 5.3 %

Shares of CIVB stock traded down $1.16 during mid-day trading on Monday, hitting $20.90. 68,506 shares of the company's stock were exchanged, compared to its average volume of 49,010. Civista Bancshares has a fifty-two week low of $13.60 and a fifty-two week high of $23.69. The stock has a market cap of $328.97 million, a price-to-earnings ratio of 10.35 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. The stock has a 50-day simple moving average of $21.48 and a two-hundred day simple moving average of $19.35.

Civista Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $0.17 per share. This is a boost from Civista Bancshares's previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, February 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.25%. Civista Bancshares's dividend payout ratio (DPR) is 31.68%.

Analysts Set New Price Targets

Several research firms have weighed in on CIVB. Stephens reissued an "equal weight" rating and set a $24.00 price target on shares of Civista Bancshares in a research report on Friday. Keefe, Bruyette & Woods raised their price target 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, Hovde Group raised Civista Bancshares from a "market perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.

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.