Civista Bancshares (NASDAQ:CIVB) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Civista Bancshares shares crossed above their 200‑day moving average, trading as high as $24.24 and last at $24.17 versus a 200‑day MA of $22.56 on the move.
• Analyst coverage is mixed with an average rating of “Hold” and an average target of $26.20 (three Buy and four Hold analysts, recent targets ranging roughly $25–$28).
• The bank reported an earnings beat (Q EPS $0.75 vs. $0.61 est.), has a P/E of 9.09 and ~$596M market cap, and recently raised its quarterly dividend to $0.18 (annualized yield ~3.0%).

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.56 and traded as high as $24.24. Civista Bancshares shares last traded at $24.17, with a volume of 105,065 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CIVB shares. DA Davidson reaffirmed a "buy" rating and set a $28.00 target price on shares of Civista Bancshares in a research report on Friday, January 30th. Piper Sandler started coverage on Civista Bancshares in a research report on Thursday, April 2nd. They set a "neutral" rating and a $25.00 target price on the stock. Zacks Research raised Civista Bancshares from a "strong sell" rating to a "hold" rating in a research report on Monday, February 16th. Hovde Group upped their target price on Civista Bancshares from $23.00 to $26.00 and gave the company a "market perform" rating in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods upped their target price on Civista Bancshares from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Civista Bancshares presently has an average rating of "Hold" and an average target price of $26.20.

Civista Bancshares Trading Up 2.0%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day simple moving average of $23.35 and a two-hundred day simple moving average of $22.56. The firm has a market cap of $596.03 million, a PE ratio of 9.09 and a beta of 0.64.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.14. The business had revenue of $46.34 million for the quarter, compared to the consensus estimate of $45.43 million. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%. Analysts expect that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, February 10th. This is a boost from Civista Bancshares's previous quarterly dividend of $0.17. Civista Bancshares's dividend payout ratio (DPR) is presently 27.07%.

Institutional Trading of Civista Bancshares

Large investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its stake in Civista Bancshares by 43.7% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 132,711 shares of the bank's stock valued at $2,695,000 after purchasing an additional 40,376 shares during the last quarter. Strategic Value Bank Partners LLC purchased a new stake in Civista Bancshares during the 3rd quarter valued at about $2,031,000. Assenagon Asset Management S.A. purchased a new stake in Civista Bancshares during the 3rd quarter valued at about $1,603,000. Royce & Associates LP purchased a new stake in Civista Bancshares during the 3rd quarter valued at about $5,584,000. Finally, Stieven Capital Advisors L.P. purchased a new stake in Civista Bancshares during the 3rd quarter valued at about $2,234,000. Hedge funds and other institutional investors own 52.10% of the company's stock.

Civista Bancshares Company Profile

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.

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