Civista Bancshares (NASDAQ:CIVB) Share Price Passes Above 200 Day Moving Average of $15.24

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.24 and traded as high as $17.01. Civista Bancshares shares last traded at $16.97, with a volume of 31,200 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $19.00 price target (up from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Piper Sandler upped their price objective on Civista Bancshares from $16.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Civista Bancshares currently has a consensus rating of "Hold" and a consensus target price of $18.25.

Civista Bancshares Stock Performance

The company has a debt-to-equity ratio of 1.64, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day simple moving average of $16.31 and a 200-day simple moving average of $15.25. The firm has a market capitalization of $270.82 million, a PE ratio of 7.35 and a beta of 0.82.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.05. Civista Bancshares had a return on equity of 9.24% and a net margin of 14.48%. The company had revenue of $61.14 million during the quarter, compared to analysts' expectations of $36.57 million. During the same quarter in the previous year, the business earned $0.64 EPS. Equities research analysts expect that Civista Bancshares, Inc. will post 1.76 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Tuesday, August 6th. Civista Bancshares's payout ratio is currently 27.47%.

Insider Activity at Civista Bancshares

In other news, Director Julie A. Mattlin bought 2,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $15.60 per share, for a total transaction of $31,200.00. Following the acquisition, the director now owns 12,442 shares of the company's stock, valued at $194,095.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Civista Bancshares

A number of hedge funds have recently made changes to their positions in CIVB. AQR Capital Management LLC purchased a new stake in shares of Civista Bancshares during the 2nd quarter worth $323,000. Quadrature Capital Ltd acquired a new position in Civista Bancshares during the 4th quarter valued at about $274,000. Allspring Global Investments Holdings LLC increased its position in Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank's stock valued at $197,000 after buying an additional 12,624 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Civista Bancshares by 35.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 47,421 shares of the bank's stock valued at $729,000 after buying an additional 12,531 shares in the last quarter. Finally, Princeton Capital Management LLC acquired a new position in Civista Bancshares during the 2nd quarter valued at about $189,000. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

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.