Civista Bancshares, Inc. (CIVB) to Issue Quarterly Dividend of $0.17 on February 18th

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders 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 3.21%. The ex-dividend date is Tuesday, February 4th. This is an increase from Civista Bancshares’s previous quarterly dividend of $0.16.

Civista Bancshares has raised its dividend payment by an average of 7.2% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Civista Bancshares has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.6 %

NASDAQ:CIVB opened at $21.19 on Friday. The stock has a market cap of $333.53 million, a price-to-earnings ratio of 10.54 and a beta of 0.82. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average price is $21.62 and its 200-day moving average price is $19.06. Civista Bancshares has a 52 week low of $13.60 and a 52 week high of $23.69.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The firm had revenue of $62.43 million during the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.66 earnings per share. On average, equities research analysts forecast that Civista Bancshares will post 1.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Hovde Group upgraded 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 increased their price objective on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upped their price target 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.