Civista Bancshares (NASDAQ:CIVB) Announces Quarterly Earnings Results

Key Points

• Civista Bancshares reported quarterly EPS of $0.77, beating the consensus estimate of $0.70 by $0.07. The bank posted a 20.79% net margin and 10.65% return on equity.
• The company declared a quarterly dividend of $0.18 per share, equivalent to $0.72 annually and a 2.6% yield, with payment scheduled for November 17.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $30.25, compared with the stock’s opening price of $27.30.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) issued its quarterly earnings results on Thursday. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07, Zacks reports. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%.

Civista Bancshares Price Performance

CIVB stock opened at $27.30 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41. Civista Bancshares has a one year low of $20.87 and a one year high of $29.97. The firm has a market capitalization of $567.57 million, a PE ratio of 10.11 and a beta of 0.66. The firm has a 50-day moving average of $27.19 and a two-hundred day moving average of $26.73.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Tuesday, November 3rd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, November 3rd. Civista Bancshares's payout ratio is presently 26.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CIVB shares. Zacks Research cut shares of Civista Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. DA Davidson boosted their target price on shares of Civista Bancshares from $31.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Civista Bancshares in a research note on Friday, October 2nd. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $31.00 target price (up from $29.00) on shares of Civista Bancshares in a research note on Friday, July 24th. Finally, Piper Sandler raised their target price on shares of Civista Bancshares from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.25.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. It operates primarily through Civista Bank, a community banking institution that provides financial services to individuals, families, businesses and public-sector organizations.

Civista Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate, consumer, agricultural and commercial loans.

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