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

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

Civista Bancshares Stock Performance

Shares of CIVB stock traded up $0.25 during mid-day trading on Thursday, reaching $21.76. The stock had a trading volume of 8,598 shares, compared to its average volume of 44,888. Civista Bancshares has a 1-year low of $13.60 and a 1-year high of $23.69. The firm has a market cap of $342.42 million, a price-to-earnings ratio of 10.81 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The business’s fifty day moving average is $21.52 and its 200-day moving average is $19.28.

Civista Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, February 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.13%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.16. Civista Bancshares’s payout ratio is currently 31.84%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on shares of Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stephens upped their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

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.