Civista Bancshares (NASDAQ:CIVB) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Civista Bancshares (NASDAQ:CIVB) announced its quarterly earnings results on Thursday. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10, Zacks reports. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%.

Civista Bancshares Stock Up 3.1 %

Shares of NASDAQ:CIVB opened at $22.06 on Friday. The firm has a fifty day moving average of $21.49 and a 200 day moving average of $19.29. Civista Bancshares has a 52-week low of $13.60 and a 52-week high of $23.69. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $347.22 million, a PE ratio of 10.98 and a beta of 0.82.

Civista Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th will be issued a $0.17 dividend. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.08%. Civista Bancshares’s dividend payout ratio is presently 31.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Stephens reiterated an “equal weight” rating and set a $24.00 price target on shares of Civista Bancshares in a research report on Friday. Hovde Group raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.50.

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.