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. The company also purchases securities; and provides trust and third-party insurance services. It operates approximately 42 locations in Northern, Central, Southwestern, and Northwestern Ohio, as well as Southeastern Indiana and Northern Kentucky. The company was formerly known as First Citizens Banc Corp and changed its name to Civista Bancshares, Inc. in May 2015. Civista Bancshares, Inc. was founded in 1884 and is headquartered in Sandusky, Ohio.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on CIVB shares. DA Davidson reissued a "buy" rating on shares of Civista Bancshares in a research note on Wednesday, July 27th. StockNews.com downgraded shares of Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Thursday, May 26th. Finally, Hovde Group downgraded shares of Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $25.00 price objective for the company. in a research note on Friday, July 29th.
Civista Bancshares Stock Up 0.6 %
NASDAQ:CIVB traded up $0.14 on Tuesday, hitting $22.68. The stock had a trading volume of 19,952 shares, compared to its average volume of 40,050. The business's fifty day moving average price is $21.49 and its 200 day moving average price is $22.48. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. Civista Bancshares has a 52-week low of $20.10 and a 52-week high of $25.94. The stock has a market cap of $349.70 million, a price-to-earnings ratio of 9.17 and a beta of 0.84.
Civista Bancshares (NASDAQ:CIVB - Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The bank reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.01. The firm had revenue of $29.90 million for the quarter, compared to analyst estimates of $30.90 million. Civista Bancshares had a net margin of 28.80% and a return on equity of 11.04%. During the same period in the previous year, the company earned $0.59 earnings per share. Equities research analysts anticipate that Civista Bancshares will post 2.36 earnings per share for the current year.
Civista Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Monday, August 8th. Civista Bancshares's dividend payout ratio (DPR) is presently 22.67%.
Insider Activity
In related news, Director Harry Singer acquired 1,900 shares of the company's stock in a transaction dated Friday, June 17th. The shares were purchased at an average cost of $20.90 per share, with a total value of $39,710.00. Following the completion of the acquisition, the director now directly owns 8,556 shares of the company's stock, valued at $178,820.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.05% of the company's stock.