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

Civista Bancshares, Inc. (NASDAQ:CIVB) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.67 and traded as high as $22.39. Civista Bancshares shares last traded at $22.32, with a volume of 46,565 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stephens lifted their price objective on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price target on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods restated an “outperform” rating and set a $19.00 price objective (up from $18.00) on shares of Civista Bancshares in a research report on Tuesday, July 30th. Finally, Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Civista Bancshares has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Civista Bancshares Price Performance

The company has a 50 day moving average price of $18.77 and a 200-day moving average price of $16.67. The company has a market cap of $351.25 million, a price-to-earnings ratio of 11.10 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 0.95 and a debt-to-equity ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The company had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, equities research analysts predict that Civista Bancshares, Inc. will post 1.91 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.64 annualized dividend and a dividend yield of 2.87%. Civista Bancshares’s payout ratio is 31.84%.

Hedge Funds Weigh In On Civista Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Inspire Investing LLC bought a new position in Civista Bancshares during the 3rd quarter worth approximately $926,000. Assenagon Asset Management S.A. lifted its holdings in Civista Bancshares by 130.8% in the third quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock valued at $1,131,000 after buying an additional 35,968 shares during the period. AQR Capital Management LLC acquired a new position in Civista Bancshares in the second quarter valued at $323,000. Barclays PLC boosted its position in Civista Bancshares by 40.7% during the third quarter. Barclays PLC now owns 51,521 shares of the bank’s stock valued at $917,000 after acquiring an additional 14,909 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after acquiring an additional 12,624 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.

Civista Bancshares Company Profile

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.