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

Civista Bancshares, Inc. (NASDAQ:CIVB) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Tuesday, February 4th will be given a dividend of 0.17 per share by the bank on Tuesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 3.19%. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.16.

Civista Bancshares has raised its dividend by an average of 7.2% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Civista Bancshares has a dividend payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Civista Bancshares to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 30.8%.

Civista Bancshares Price Performance

CIVB stock opened at $21.30 on Wednesday. Civista Bancshares has a 12-month low of $13.60 and a 12-month high of $23.69. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm’s 50-day moving average price is $21.69 and its two-hundred day moving average price is $18.99. The stock has a market capitalization of $335.26 million, a price-to-earnings ratio of 10.60 and a beta of 0.82.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.09. The company had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $37.60 million. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. During the same period last year, the company posted $0.66 earnings per share. As a group, equities analysts predict that Civista Bancshares will post 1.92 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CIVB. Hovde Group raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Wednesday, October 30th. Stephens boosted their price objective on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

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.