Civista Bancshares, Inc. (CIVB) Raises Dividend to $0.07 Per Share
Civista Bancshares, Inc. (NASDAQ:CIVB) declared a quarterly dividend on Tuesday, October 10th, Wall Street Journal reports. Shareholders of record on Tuesday, October 17th will be paid a dividend of 0.07 per share by the bank on Wednesday, November 1st. This represents a $0.28 annualized dividend and a yield of 1.20%. The ex-dividend date is Monday, October 16th. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.06.
Shares of Civista Bancshares (NASDAQ:CIVB) traded up 2.23% during trading on Tuesday, reaching $23.39. The company’s stock had a trading volume of 25,393 shares. The company has a 50-day moving average price of $20.96 and a 200-day moving average price of $20.92. Civista Bancshares has a one year low of $14.15 and a one year high of $23.75. The stock has a market cap of $237.88 million, a price-to-earnings ratio of 17.36 and a beta of 0.50.
Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Friday, July 28th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The business had revenue of $17.47 million for the quarter, compared to analysts’ expectations of $17.70 million. Civista Bancshares had a return on equity of 11.19% and a net margin of 21.97%. On average, equities research analysts forecast that Civista Bancshares will post $1.27 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Civista Bancshares stock. State Street Corp bought a new stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 104,138 shares of the bank’s stock, valued at approximately $2,174,000. State Street Corp owned about 1.02% of Civista Bancshares as of its most recent filing with the SEC. Hedge funds and other institutional investors own 42.33% of the company’s stock.
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CIVB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $24.00 target price on shares of Civista Bancshares in a research note on Sunday, July 30th. Boenning Scattergood set a $24.00 price target on Civista Bancshares and gave the stock a “buy” rating in a report on Friday, July 28th. Sandler O’Neill restated a “buy” rating and issued a $25.00 price target (up previously from $23.50) on shares of Civista Bancshares in a report on Friday. Zacks Investment Research upgraded Civista Bancshares from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, DA Davidson restated a “neutral” rating and issued a $24.50 price target on shares of Civista Bancshares in a report on Tuesday, July 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $22.65.
Civista Bancshares Company Profile
Civista Bancshares, Inc is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services.
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