Civista Bancshares (NASDAQ:CIVB) Announces Quarterly Earnings Results

Civista Bancshares (NASDAQ:CIVB - Get Free Report) released its earnings results on Tuesday. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.09, Yahoo Finance reports. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.24%. The company had revenue of $62.43 million for the quarter, compared to the consensus estimate of $37.60 million. During the same period in the prior year, the company posted $0.66 EPS.

Civista Bancshares Trading Up 7.8 %

Shares of Civista Bancshares stock traded up $1.46 during trading hours on Wednesday, hitting $20.20. The company's stock had a trading volume of 112,107 shares, compared to its average volume of 38,836. The stock has a 50 day moving average of $17.47 and a 200 day moving average of $16.02. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $20.39. 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 company has a market capitalization of $317.69 million, a PE ratio of 8.62 and a beta of 0.80.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.64 dividend on an annualized basis and a yield of 3.17%. Civista Bancshares's payout ratio is 27.47%.

Insiders Place Their Bets

In related news, Director Julie A. Mattlin acquired 2,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $15.60 per share, with a total value of $31,200.00. Following the completion of the transaction, the director now directly owns 12,442 shares of the company's stock, valued at approximately $194,095.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.01% of the company's stock.

Wall Street Analysts Forecast Growth

CIVB has been the topic of a number of recent research reports. Stephens raised their price objective on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday. Piper Sandler raised their price target on Civista Bancshares from $16.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. Hovde Group upgraded Civista Bancshares from a "market perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.25.

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.