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

Civista Bancshares (NASDAQ:CIVB) released its quarterly earnings results on Thursday. The bank reported $0.63 earnings per share (EPS) for the quarter, beating 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 Price Performance

Shares of CIVB stock opened at $21.39 on Friday. The stock has a 50 day moving average price of $21.52 and a 200 day moving average price of $19.28. The firm has a market capitalization of $336.68 million, a P/E ratio of 10.64 and a beta of 0.82. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95. Civista Bancshares has a 52-week low of $13.60 and a 52-week high of $23.69.

Civista Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th will be given a $0.17 dividend. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, February 4th. Civista Bancshares’s dividend payout ratio is 31.84%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CIVB shares. Keefe, Bruyette & Woods lifted their price target on shares of Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Stephens increased their price target on Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.