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

Key Points

• Civista Bancshares, Inc. announced a quarterly dividend of $0.17 per share, payable on November 18th to stockholders of record on November 4th, representing a 3.2% dividend yield.
• The bank's current payout ratio is 23.0%, suggesting that its dividend is well-supported by earnings, with an expected future payout ratio of 26.2% for the next year.
• Civista Bancshares has seen its stock price increase by 3.7%, with analysts suggesting a consensus price target of $24.80 and mixed ratings among research analysts.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) declared a quarterly dividend on Wednesday, October 22nd. Stockholders of record on Tuesday, November 4th will be paid a dividend of 0.17 per share by the bank on Tuesday, November 18th. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, November 4th.

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 Stock Up 3.7%

Shares of CIVB opened at $21.55 on Thursday. Civista Bancshares has a 12 month low of $17.47 and a 12 month high of $25.59. The firm's 50 day moving average is $20.68 and its 200-day moving average is $21.35. The stock has a market capitalization of $416.13 million, a PE ratio of 8.52 and a beta of 0.73. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.66 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.03). Civista Bancshares had a return on equity of 9.77% and a net margin of 15.83%.The business had revenue of $41.40 million for the quarter, compared to the consensus estimate of $43.07 million. Equities research analysts forecast that Civista Bancshares will post 2.28 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stephens decreased their price objective on shares of Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Wall Street Zen cut shares of Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Zacks Research raised shares of Civista Bancshares from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of Civista Bancshares in a research note on Wednesday, October 8th. Finally, DA Davidson upgraded shares of Civista Bancshares to a "strong-buy" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $24.80.

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.

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