Civista Bancshares (NASDAQ:CIVB) Stock Passes Above 200 Day Moving Average – Here’s Why

Civista Bancshares, Inc. (NASDAQ:CIVB)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.41 and traded as high as $25.84. Civista Bancshares shares last traded at $25.82, with a volume of 66,129 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler upped their price target on Civista Bancshares from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. DA Davidson reiterated a “buy” rating and set a $28.00 price target on shares of Civista Bancshares in a report on Friday, January 30th. Keefe, Bruyette & Woods upped their price target on Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Wall Street Zen upgraded Civista Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Hovde Group upped their price objective on Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.60.

Civista Bancshares Price Performance

The business has a fifty day moving average of $23.96 and a 200-day moving average of $23.41. The firm has a market cap of $536.54 million, a PE ratio of 9.49 and a beta of 0.67. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The business had revenue of $47.25 million for the quarter, compared to analysts’ expectations of $45.64 million. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%. As a group, research analysts predict that Civista Bancshares, Inc. will post 2.84 earnings per share for the current year.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.8%. Civista Bancshares’s dividend payout ratio (DPR) is presently 26.47%.

Institutional Trading of Civista Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC increased its position in shares of Civista Bancshares by 57.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after purchasing an additional 481 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Civista Bancshares by 5.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock valued at $179,000 after purchasing an additional 485 shares during the last quarter. Barclays PLC increased its position in shares of Civista Bancshares by 0.9% during the 3rd quarter. Barclays PLC now owns 54,603 shares of the bank’s stock valued at $1,109,000 after purchasing an additional 498 shares during the last quarter. CWM LLC increased its position in shares of Civista Bancshares by 12.1% during the 4th quarter. CWM LLC now owns 8,249 shares of the bank’s stock valued at $183,000 after purchasing an additional 893 shares during the last quarter. Finally, Vista Investment Management increased its position in shares of Civista Bancshares by 5.3% during the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock valued at $404,000 after purchasing an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Company Profile

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.