Civista Bancshares, Inc. (NASDAQ:CIVB) Declares Quarterly Dividend of $0.17

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Wednesday, April 16th, RTT News reports. Shareholders of record on Tuesday, April 29th will be paid a dividend of 0.17 per share by the bank on Tuesday, May 13th. This represents a $0.68 dividend on an annualized basis and a yield of 3.49%.

Civista Bancshares has increased its dividend payment by an average of 17.0% annually over the last three years. Civista Bancshares has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Civista Bancshares to earn $2.60 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.2%.

Civista Bancshares Stock Performance

Shares of NASDAQ:CIVB remained flat at $19.49 during midday trading on Wednesday. The stock had a trading volume of 39,144 shares, compared to its average volume of 43,577. The stock has a fifty day moving average of $19.97 and a 200 day moving average of $20.47. Civista Bancshares has a 12 month low of $13.60 and a 12 month high of $23.69. The firm has a market capitalization of $301.69 million, a price-to-earnings ratio of 9.65 and a beta of 0.67. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $0.63 EPS for the quarter, topping the consensus estimate of $0.53 by $0.10. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. As a group, research analysts anticipate that Civista Bancshares will post 2.28 earnings per share for the current year.

Analysts Set New Price Targets

CIVB has been the subject of several research reports. Stephens restated an “equal weight” rating and issued a $24.00 target price on shares of Civista Bancshares in a research note on Friday, January 31st. DA Davidson set a $27.00 price objective on Civista Bancshares in a report on Friday, January 31st. Finally, StockNews.com upgraded Civista Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, February 22nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.