Civista Bancshares, Inc. (CIVB) to Issue Quarterly Dividend of $0.14 on August 23rd

Posted by Erica Schwartz on Aug 6th, 2022

Civista Bancshares, Inc. (NASDAQ:CIVB – Get Rating) declared a quarterly dividend on Friday, July 29th, Fidelity reports. Stockholders of record on Tuesday, August 9th will be paid a dividend of 0.14 per share by the bank on Tuesday, August 23rd. This represents a $0.56 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Monday, August 8th.

Civista Bancshares has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Civista Bancshares to earn $2.79 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 20.1%.

Civista Bancshares Trading Up 1.9 %

Shares of CIVB stock traded up $0.40 during trading hours on Friday, hitting $21.79. The company had a trading volume of 45,935 shares, compared to its average volume of 25,546. The company’s fifty day moving average is $21.38 and its 200 day moving average is $22.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.90 and a quick ratio of 0.90. Civista Bancshares has a fifty-two week low of $20.10 and a fifty-two week high of $25.94. The stock has a market capitalization of $317.92 million, a PE ratio of 8.82 and a beta of 0.84.

Civista Bancshares (NASDAQ:CIVB – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. Civista Bancshares had a net margin of 28.80% and a return on equity of 10.70%. The firm had revenue of $29.90 million for the quarter, compared to analyst estimates of $30.90 million. During the same period in the prior year, the business posted $0.59 EPS. Research analysts expect that Civista Bancshares will post 2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Civista Bancshares news, Director Harry Singer purchased 1,900 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The stock was purchased at an average price of $20.90 per share, for a total transaction of $39,710.00. Following the purchase, the director now directly owns 8,556 shares in the company, valued at $178,820.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.05% of the stock is owned by company insiders.

Institutional Trading of Civista Bancshares

Several hedge funds have recently made changes to their positions in CIVB. Acadian Asset Management LLC lifted its stake in shares of Civista Bancshares by 33.1% in the first quarter. Acadian Asset Management LLC now owns 20,005 shares of the bank’s stock valued at $480,000 after purchasing an additional 4,975 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Civista Bancshares by 58.3% during the first quarter. MetLife Investment Management LLC now owns 8,279 shares of the bank’s stock worth $200,000 after buying an additional 3,049 shares in the last quarter. LSV Asset Management boosted its position in shares of Civista Bancshares by 4.6% in the first quarter. LSV Asset Management now owns 138,429 shares of the bank’s stock worth $3,336,000 after acquiring an additional 6,097 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Civista Bancshares by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 600,664 shares of the bank’s stock worth $14,476,000 after acquiring an additional 26,426 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Civista Bancshares by 0.7% in the first quarter. Vanguard Group Inc. now owns 680,374 shares of the bank’s stock worth $16,397,000 after acquiring an additional 4,800 shares during the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CIVB. DA Davidson reaffirmed a “buy” rating on shares of Civista Bancshares in a research note on Wednesday, July 27th. Hovde Group downgraded shares of Civista Bancshares from an “outperform” rating to a “market perform” rating and set a $25.00 target price on the stock. in a research report on Friday, July 29th. Finally, StockNews.com downgraded shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, May 26th.

Civista Bancshares Company Profile

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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.