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

Key Points

• Civista Bancshares (NASDAQ:CIVB) rose above its 200-day moving average, trading as high as $28.13 and last changing hands at $27.88, indicating recent positive momentum.
• Analyst sentiment remains mixed: the stock has been downgraded by some firms, while Piper Sandler raised its price target to $30; overall, MarketBeat reports a Hold consensus and an average target price of $27.20.
• The company recently posted better-than-expected quarterly earnings of $0.74 per share on revenue of $47.25 million, and it paid a quarterly dividend of $0.18 per share, implying a 2.6% annualized yield.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.43 and traded as high as $28.13. Civista Bancshares shares last traded at $27.88, with a volume of 155,881 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on CIVB shares. Wall Street Zen lowered Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Zacks Research lowered Civista Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Finally, Piper Sandler boosted their price objective on Civista Bancshares from $27.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $27.20.

Civista Bancshares Stock Up 0.8%

The stock has a market capitalization of $579.35 million, a P/E ratio of 10.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a fifty day moving average price of $26.41 and a 200 day moving average price of $24.43.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. The company had revenue of $47.25 million for the quarter, compared to analyst estimates of $45.64 million. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%. On average, research analysts forecast that Civista Bancshares, Inc. will post 2.84 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares's payout ratio is presently 26.47%.

Institutional Investors Weigh In On Civista Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Civista Bancshares by 1,092.1% in the third quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank's stock valued at $29,938,000 after acquiring an additional 1,350,409 shares during the period. Alliancebernstein L.P. increased its holdings in Civista Bancshares by 2,904.8% during the 3rd quarter. Alliancebernstein L.P. now owns 355,472 shares of the bank's stock worth $7,220,000 after acquiring an additional 343,642 shares during the period. Vanguard Group Inc. increased its holdings in Civista Bancshares by 19.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank's stock worth $20,752,000 after acquiring an additional 166,049 shares during the period. Maltese Capital Management LLC increased its holdings in Civista Bancshares by 93.2% during the 3rd quarter. Maltese Capital Management LLC now owns 284,000 shares of the bank's stock worth $5,768,000 after acquiring an additional 137,000 shares during the period. Finally, Royce & Associates LP lifted its stake in Civista Bancshares by 42.9% in the 4th quarter. Royce & Associates LP now owns 392,952 shares of the bank's stock worth $8,731,000 after purchasing an additional 117,994 shares in the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

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.

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