Civista Bancshares (NASDAQ:CIVB) Releases Earnings Results, Beats Estimates By $0.09 EPS

Civista Bancshares (NASDAQ:CIVB) posted its earnings results on Tuesday. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09, Yahoo Finance reports. Civista Bancshares had a net margin of 14.48% and a return on equity of 9.24%. The business had revenue of $62.43 million for the quarter, compared to analyst estimates of $37.60 million. During the same period last year, the business posted $0.66 EPS.

Civista Bancshares Trading Up 8.1 %

CIVB opened at $20.25 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $318.47 million, a price-to-earnings ratio of 8.69 and a beta of 0.80. The firm has a 50 day simple moving average of $17.54 and a 200 day simple moving average of $16.05. Civista Bancshares has a fifty-two week low of $13.60 and a fifty-two week high of $20.39.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Tuesday, November 5th. Civista Bancshares’s dividend payout ratio (DPR) is 27.47%.

Insider Buying and Selling

In other news, Director Julie A. Mattlin acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the completion of the acquisition, the director now owns 12,442 shares in the company, valued at $194,095.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on CIVB shares. Stephens raised their target price on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday. Piper Sandler raised their price target on shares of Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Hovde Group upgraded 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 research report on Wednesday. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $19.00 price target (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. 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, Civista Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

About Civista Bancshares

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.