Civista Bancshares, Inc. (NASDAQ:CIVB) Declares Quarterly Dividend of $0.18

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Tuesday, April 21st. Stockholders of record on Tuesday, May 5th will be given a dividend of 0.18 per share by the bank on Tuesday, May 19th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, May 5th.

Civista Bancshares has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Civista Bancshares has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Civista Bancshares to earn $2.91 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 24.7%.

Civista Bancshares Trading Down 2.1%

NASDAQ:CIVB opened at $23.77 on Wednesday. The company has a 50-day moving average price of $23.26 and a 200-day moving average price of $22.79. Civista Bancshares has a 12 month low of $18.94 and a 12 month high of $25.59. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. The stock has a market cap of $586.17 million, a price-to-earnings ratio of 8.94 and a beta of 0.64.

Civista Bancshares (NASDAQ:CIVB) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, topping the consensus estimate of $0.57 by $0.17. Civista Bancshares had a net margin of 18.12% and a return on equity of 10.48%. The firm had revenue of $47.25 million during the quarter, compared to analysts’ expectations of $45.64 million. Equities analysts predict that Civista Bancshares will post 2.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CIVB shares. Keefe, Bruyette & Woods raised their target price on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Zacks Research raised shares of Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Hovde Group lifted their price target on shares of Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Finally, Piper Sandler began coverage on shares of Civista Bancshares in a research report on Thursday, April 2nd. They set a “neutral” rating and a $25.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Civista Bancshares presently has a consensus rating of “Hold” and a consensus price target of $26.20.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.