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

Key Points

• Civista Bancshares shares crossed above their 200-day moving average, reaching $27.30 before closing at $26.98, compared with a 200-day average of $25.70.
• Analyst sentiment remains moderately positive: the stock has three Buy and three Hold ratings, with a consensus price target of $30.25.
• The bank slightly beat quarterly earnings expectations with EPS of $0.69 versus $0.67 estimated, and maintains a quarterly dividend of $0.18, equal to a 2.7% annualized yield.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.70 and traded as high as $27.30. Civista Bancshares shares last traded at $26.98, with a volume of 222,854 shares.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Civista Bancshares from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $31.00 target price (up from $29.00) on shares of Civista Bancshares in a report on Friday, July 24th. 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 reissued a "buy (b)" rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. 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 note 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. According to MarketBeat, Civista Bancshares has an average rating of "Moderate Buy" and a consensus price target of $30.25.

Civista Bancshares Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.94 and a current ratio of 0.95. The company has a market capitalization of $561.02 million, a price-to-earnings ratio of 9.99 and a beta of 0.66. The company has a 50-day moving average price of $28.24 and a 200-day moving average price of $25.70.

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

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.72 annualized dividend and a dividend yield of 2.7%. Civista Bancshares's payout ratio is 26.67%.

Institutional Trading of Civista Bancshares

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Civista Bancshares by 1,092.1% during the third quarter. Wellington Management Group LLP now owns 1,474,065 shares of the bank's stock worth $29,938,000 after acquiring an additional 1,350,409 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Civista Bancshares by 19.4% during the third quarter. Vanguard Group Inc. now owns 1,021,787 shares of the bank's stock worth $20,752,000 after purchasing an additional 166,049 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Civista Bancshares by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank's stock valued at $21,658,000 after purchasing an additional 40,176 shares during the period. Geode Capital Management LLC increased its stake in Civista Bancshares by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 462,583 shares of the bank's stock worth $10,281,000 after purchasing an additional 32,146 shares in the last quarter. Finally, State Street Corp raised its holdings in Civista Bancshares by 6.7% during the 4th quarter. State Street Corp now owns 411,500 shares of the bank's stock worth $9,144,000 after buying an additional 25,672 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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