Civista Bancshares (NASDAQ:CIVB) Releases Earnings Results

Civista Bancshares (NASDAQ:CIVB) posted its quarterly earnings results on Wednesday. The bank reported $0.71 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $44.18 million for the quarter. Civista Bancshares had a net margin of 17.42% and a return on equity of 10.86%.

Civista Bancshares Price Performance

Shares of NASDAQ:CIVB remained flat at $21.87 during midday trading on Friday. The company had a trading volume of 55,524 shares, compared to its average volume of 70,653. The stock has a fifty day moving average price of $20.98 and a 200 day moving average price of $21.56. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $422.38 million, a PE ratio of 8.16 and a beta of 0.79. Civista Bancshares has a 1 year low of $17.47 and a 1 year high of $25.59.

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Tuesday, November 4th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.1%. Civista Bancshares’s dividend payout ratio is currently 25.37%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its holdings in Civista Bancshares by 306.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after buying an additional 1,015 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of Civista Bancshares in the second quarter valued at $32,000. CWM LLC raised its stake in shares of Civista Bancshares by 43.7% in the first quarter. CWM LLC now owns 3,084 shares of the bank’s stock valued at $60,000 after acquiring an additional 938 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after purchasing an additional 2,783 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake 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 purchasing an additional 4,253 shares in the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Analyst Ratings Changes

CIVB has been the subject of a number of recent research reports. Zacks Research upgraded shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Stephens dropped their price target on Civista Bancshares from $27.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 29th. Hovde Group cut Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a report on Monday, August 18th. Keefe, Bruyette & Woods lifted their price objective on Civista Bancshares from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Civista Bancshares in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.60.

About Civista Bancshares

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.