Civista Bancshares (NASDAQ:CIVB) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Civista Bancshares, Inc. (NASDAQ:CIVB)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.43 and traded as high as $28.13. Civista Bancshares shares last traded at $27.88, with a volume of 155,881 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CIVB. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a research report on Wednesday, July 8th. Wall Street Zen cut Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Piper Sandler upped their target price on Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Finally, Zacks Research cut Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Civista Bancshares currently has an average rating of “Hold” and an average target price of $27.20.

Civista Bancshares Trading Up 0.8%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $579.35 million, a PE ratio of 10.25 and a beta of 0.67. The stock’s 50 day simple moving average is $26.41 and its 200 day simple moving average is $24.43.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The firm had revenue of $47.25 million for the quarter, compared to analyst estimates of $45.64 million. Civista Bancshares had a net margin of 19.73% and a return on equity of 10.70%. On average, sell-side analysts forecast that Civista Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th were given a $0.18 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.72 annualized dividend and a yield of 2.6%. Civista Bancshares’s payout ratio is 26.47%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CIVB. NewEdge Advisors LLC raised its position in Civista Bancshares by 57.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after purchasing an additional 481 shares in the last quarter. Federated Hermes Inc. lifted its stake in Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Civista Bancshares by 628.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after purchasing an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Civista Bancshares by 111.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after purchasing an additional 2,107 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Civista Bancshares by 784.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock valued at $111,000 after purchasing an additional 4,253 shares during the last quarter. 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.