Civista Bancshares (NASDAQ:CIVB) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Civista Bancshares, Inc. (NASDAQ:CIVB) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.00 and traded as high as $27.46. Civista Bancshares shares last traded at $27.42, with a volume of 150,241 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Zacks Research raised shares of Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Wall Street Zen cut shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Piper Sandler increased their price objective on Civista Bancshares from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.60.

Civista Bancshares Stock Up 2.2%

The stock has a 50-day moving average price of $25.40 and a 200-day moving average price of $24.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $569.79 million, a P/E ratio of 10.08 and a beta of 0.67.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, beating the consensus estimate 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%. On average, research analysts predict that Civista Bancshares, Inc. will post 2.84 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio is currently 26.47%.

Institutional Investors Weigh In On Civista Bancshares

Large investors have recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in Civista Bancshares by 57.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after buying an additional 481 shares during the last quarter. Federated Hermes Inc. boosted its position in Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,015 shares during the last quarter. Osaic Holdings Inc. boosted its position in Civista Bancshares by 628.2% during the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after acquiring an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Civista Bancshares by 111.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after acquiring an additional 2,107 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Civista Bancshares by 784.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock worth $111,000 after acquiring an additional 4,253 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

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.