Civista Bancshares, Inc. (CIVB) to Issue Quarterly Dividend of $0.18 on November 17th

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.18 per share by the bank on Tuesday, November 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, November 3rd.

Civista Bancshares has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 4 years. Civista Bancshares has a payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Civista Bancshares to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 24.4%.

Civista Bancshares Trading Up 5.2%

NASDAQ CIVB opened at $28.15 on Friday. The firm has a market cap of $585.24 million, a PE ratio of 9.35 and a beta of 0.66. Civista Bancshares has a 1-year low of $20.87 and a 1-year high of $29.97. The stock has a 50-day moving average of $27.18 and a 200-day moving average of $26.76. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings results on Thursday, October 22nd. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $49.08 million for the quarter, compared to analyst estimates of $48.78 million. Civista Bancshares had a return on equity of 10.65% and a net margin of 20.79%. As a group, sell-side analysts forecast that Civista Bancshares will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Civista Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mendon Capital Advisors Corp boosted its holdings in Civista Bancshares by 38.3% in the first quarter. Mendon Capital Advisors Corp now owns 311,725 shares of the bank’s stock worth $7,104,000 after acquiring an additional 86,390 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Civista Bancshares during the second quarter valued at $2,323,000. Pinnacle Holdings LLC purchased a new position in shares of Civista Bancshares in the 2nd quarter worth about $1,663,000. Dimensional Fund Advisors LP raised its position in shares of Civista Bancshares by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,330 shares of the bank’s stock worth $21,658,000 after purchasing an additional 40,176 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Civista Bancshares in the 1st quarter worth about $556,000. Institutional investors own 52.10% of the company’s stock.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. The company operates primarily through its subsidiary, Civista Bank, a community-oriented institution that provides banking and financial services to individuals, families, businesses and agricultural customers.

Civista Bank offers deposit products, residential and commercial real estate loans, commercial and industrial financing, agricultural lending, consumer loans and other credit services. Its additional offerings include treasury management, online and mobile banking, wealth management, trust services, investment services and insurance solutions.

Through its branch network and other delivery channels, Civista serves customers in communities across Ohio, Indiana and Kentucky.