Civista Bancshares, Inc. (NASDAQ:CIVB – Get Rating) declared a quarterly dividend on Friday, July 29th, Fidelity reports. Stockholders of record on Tuesday, August 9th will be paid a dividend of 0.14 per share by the bank on Tuesday, August 23rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, August 8th.
Civista Bancshares has a dividend payout ratio of 19.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Civista Bancshares to earn $2.79 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 20.1%.
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Civista Bancshares Price Performance
Shares of Civista Bancshares stock opened at $21.79 on Friday. The stock has a market cap of $317.92 million, a price-to-earnings ratio of 8.82 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average price of $21.38 and a 200-day moving average price of $22.57. Civista Bancshares has a one year low of $20.10 and a one year high of $25.94.
Civista Bancshares (NASDAQ:CIVB – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. Civista Bancshares had a return on equity of 10.70% and a net
margin of 28.80%. The firm had revenue of $29.90 million during the quarter, compared to analyst estimates of $30.90 million. During the same period last year, the company earned $0.59 EPS. Equities analysts expect that Civista Bancshares will post 2.36 EPS for the current year.
Insider Activity at Civista Bancshares
In other Civista Bancshares news, Director Harry Singer bought 1,900 shares of the company's stock in a transaction on Friday, June 17th. The shares were bought at an average cost of $20.90 per share, for a total transaction of $39,710.00. Following the acquisition, the director now directly owns 8,556 shares in the company, valued at $178,820.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.05% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Civista Bancshares by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 680,374 shares of the bank's stock valued at $16,397,000 after purchasing an additional 4,800 shares during the period. Dimensional Fund Advisors LP increased its position in Civista Bancshares by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 600,664 shares of the bank's stock valued at $14,476,000 after purchasing an additional 26,426 shares during the period. The Manufacturers Life Insurance Company increased its position in Civista Bancshares by 8.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 576,602 shares of the bank's stock valued at $13,896,000 after purchasing an additional 46,686 shares during the period. Wellington Management Group LLP increased its position in Civista Bancshares by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 509,159 shares of the bank's stock valued at $12,271,000 after purchasing an additional 41,700 shares during the period. Finally, Renaissance Technologies LLC increased its position in Civista Bancshares by 4.1% during the 1st quarter. Renaissance Technologies LLC now owns 157,965 shares of the bank's stock valued at $3,807,000 after purchasing an additional 6,200 shares during the period. Hedge funds and other institutional investors own 53.04% of the company's stock.
Analysts Set New Price Targets
CIVB has been the subject of a number of research analyst reports. Hovde Group lowered Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $25.00 price target for the company. in a research note on Friday, July 29th. DA Davidson reissued a "buy" rating on shares of Civista Bancshares in a research note on Wednesday, July 27th. Finally, StockNews.com lowered Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Thursday, May 26th.
About Civista Bancshares
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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.
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