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

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) declared a quarterly dividend on Tuesday, July 22nd, RTT News reports. Investors of record on Tuesday, August 5th will be paid a dividend of 0.17 per share by the bank on Tuesday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, August 5th.

Civista Bancshares has a payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Civista Bancshares to earn $2.60 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.2%.

Civista Bancshares Price Performance

Shares of Civista Bancshares stock traded down $0.71 on Friday, hitting $20.19. The company's stock had a trading volume of 92,826 shares, compared to its average volume of 105,491. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.97 and a current ratio of 0.97. Civista Bancshares has a 1 year low of $14.90 and a 1 year high of $25.59. The firm has a fifty day moving average price of $22.56 and a 200-day moving average price of $21.31. The company has a market capitalization of $313.35 million, a price-to-earnings ratio of 7.98 and a beta of 0.69.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). Civista Bancshares had a return on equity of 9.83% and a net margin of 15.83%. The firm had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.07 million. As a group, sell-side analysts anticipate that Civista Bancshares will post 2.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Richard J. Dutton acquired 4,000 shares of the business's stock in a transaction dated Friday, July 11th. The shares were acquired at an average price of $21.25 per share, with a total value of $85,000.00. Following the completion of the transaction, the senior vice president owned 4,000 shares of the company's stock, valued at $85,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Darci L. Congrove acquired 1,250 shares of the business's stock in a transaction dated Friday, July 11th. The shares were bought at an average cost of $21.25 per share, for a total transaction of $26,562.50. Following the transaction, the director directly owned 1,250 shares of the company's stock, valued at approximately $26,562.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 17,385 shares of company stock worth $376,741 over the last ninety days. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Civista Bancshares

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in Civista Bancshares in the first quarter valued at $453,000. Acadian Asset Management LLC boosted its stake in shares of Civista Bancshares by 15.1% during the first quarter. Acadian Asset Management LLC now owns 33,814 shares of the bank's stock worth $659,000 after buying an additional 4,426 shares during the period. AQR Capital Management LLC boosted its stake in shares of Civista Bancshares by 28.0% during the first quarter. AQR Capital Management LLC now owns 35,012 shares of the bank's stock worth $684,000 after buying an additional 7,652 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of Civista Bancshares by 22.7% during the first quarter. Empowered Funds LLC now owns 64,535 shares of the bank's stock worth $1,261,000 after buying an additional 11,918 shares during the period. Institutional investors and hedge funds own 52.10% of the company's stock.

Wall Street Analysts Forecast Growth

CIVB has been the topic of several recent research reports. Piper Sandler boosted their target price on Civista Bancshares from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods lifted their price target on shares of Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Stephens lifted their price target on shares of Civista Bancshares from $24.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. DA Davidson reduced their price target on shares of Civista Bancshares from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, July 14th. Finally, Wall Street Zen lowered shares of Civista Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

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.