Civista Bancshares, Inc. Announces Quarterly Dividend of $0.16 (NASDAQ:CIVB)

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) announced a quarterly dividend on Friday, October 25th, Zacks reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.16 per share by the bank on Tuesday, November 19th. This represents a $0.64 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, November 5th.

Civista Bancshares has increased its dividend by an average of 11.5% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Civista Bancshares has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Civista Bancshares to earn $1.85 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 34.6%.

Civista Bancshares Trading Down 0.0 %

Shares of NASDAQ:CIVB traded down $0.01 during midday trading on Friday, hitting $20.36. 36,003 shares of the stock traded hands, compared to its average volume of 47,675. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.64. The business's 50 day moving average is $17.69 and its two-hundred day moving average is $16.14. The stock has a market capitalization of $320.47 million, a PE ratio of 10.13 and a beta of 0.78. Civista Bancshares has a one year low of $13.60 and a one year high of $20.93.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.46% and a net margin of 13.12%. The business had revenue of $62.43 million during the quarter, compared to analyst estimates of $37.60 million. During the same quarter in the prior year, the company posted $0.66 EPS. As a group, research analysts forecast that Civista Bancshares will post 1.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stephens raised their price target on Civista Bancshares from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Hovde Group raised shares of Civista Bancshares from a "market perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $19.00 target price (up previously from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Finally, Piper Sandler increased their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

Insider Buying and Selling

In related news, Director Julie A. Mattlin purchased 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the purchase, the director now directly owns 12,442 shares of the company's stock, valued at approximately $194,095.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.01% of the stock is currently owned by insiders.

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.