Civista Bancshares (NASDAQ:CIVB) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Civista Bancshares shares crossed above their 200-day moving average, reaching $28.99 and closing near $28.51, compared with a 200-day average of $25.43.
• Analyst sentiment is mixed but leans positive: the stock has a “Moderate Buy” consensus rating and a $30.25 average price target, with DA Davidson raising its target to $33.
• The bank exceeded quarterly EPS expectations, reporting $0.69 versus the $0.67 consensus estimate, and announced a quarterly dividend of $0.18 per share, representing a 2.5% yield.

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $25.43 and traded as high as $28.99. Civista Bancshares shares last traded at $28.51, with a volume of 184,600 shares trading hands.

Analyst Upgrades and Downgrades

CIVB has been the topic of several analyst reports. Zacks Research cut shares of Civista Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Weiss Ratings restated a "buy (b)" rating on shares of Civista Bancshares in a report on Wednesday, July 8th. DA Davidson lifted their target price on Civista Bancshares from $31.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Wall Street Zen cut Civista Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Finally, Piper Sandler increased their price target on Civista Bancshares from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.25.

Civista Bancshares Stock Performance

The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.41. The stock's fifty day moving average is $28.05 and its two-hundred day moving average is $25.43. The firm has a market capitalization of $592.72 million, a price-to-earnings ratio of 10.56 and a beta of 0.66.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.02. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%. The firm had revenue of $47.60 million during the quarter, compared to analysts' expectations of $48.08 million. On average, analysts predict that Civista Bancshares, Inc. will post 2.83 earnings per share for the current year.

Civista Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. Civista Bancshares's dividend payout ratio is presently 26.67%.

Hedge Funds Weigh In On Civista Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of CIVB. NewEdge Advisors LLC increased its position in Civista Bancshares by 57.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank's stock worth $29,000 after buying an additional 481 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Civista Bancshares by 306.6% in the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank's stock valued at $31,000 after buying an additional 1,015 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank's stock valued at $75,000 after buying an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Civista Bancshares by 111.4% in the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank's stock valued at $81,000 after buying an additional 2,107 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Civista Bancshares by 784.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank's stock worth $111,000 after acquiring an additional 4,253 shares during the period. Institutional investors own 52.10% of the company's stock.

About Civista Bancshares

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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