Civista Bancshares, Inc. (NASDAQ:CIVB) Declares Quarterly Dividend of $0.16

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) declared a quarterly dividend on Friday, April 26th, investing.com reports. Shareholders of record on Tuesday, May 7th will be given a dividend of 0.16 per share by the bank on Wednesday, May 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Monday, May 6th.

Civista Bancshares has increased its dividend by an average of 11.5% annually over the last three years and has increased its dividend every year for the last 1 years. Civista Bancshares has a payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Civista Bancshares to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 31.4%.

Civista Bancshares Trading Down 0.4 %

NASDAQ CIVB traded down $0.05 during trading hours on Friday, hitting $14.22. The company's stock had a trading volume of 30,003 shares, compared to its average volume of 27,827. Civista Bancshares has a twelve month low of $13.99 and a twelve month high of $19.80. The firm has a market capitalization of $223.11 million, a P/E ratio of 6.10 and a beta of 0.79. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average of $14.82 and a 200 day moving average of $15.87.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. The company had revenue of $58.63 million during the quarter, compared to analyst estimates of $38.01 million. During the same period last year, the company earned $0.82 EPS. Equities research analysts forecast that Civista Bancshares will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Civista Bancshares

In other news, SVP Michael D. Mulford purchased 2,000 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $15.82 per share, for a total transaction of $31,640.00. Following the completion of the acquisition, the senior vice president now directly owns 2,000 shares in the company, valued at approximately $31,640. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler assumed coverage on Civista Bancshares in a research note on Wednesday, February 21st. They issued a "neutral" rating and a $18.00 price target for the company. Stephens reduced their price target on shares of Civista Bancshares from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Friday, February 9th. Hovde Group initiated coverage on shares of Civista Bancshares in a research report on Monday, April 1st. They issued a "market perform" rating and a $16.00 price objective for the company. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $18.00 target price (down from $21.00) on shares of Civista Bancshares in a report on Wednesday. Finally, TheStreet cut Civista Bancshares from a "b-" rating to a "c+" rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $17.75.

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.