Civista Bancshares (NASDAQ:CIVB) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Civista Bancshares, Inc. (NASDAQ:CIVB) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.83 and traded as high as $27.48. Civista Bancshares shares last traded at $26.49, with a volume of 70,674 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on CIVB shares. Wall Street Zen downgraded Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Piper Sandler upped their price objective on Civista Bancshares from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Zacks Research upgraded Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.60.

Civista Bancshares Stock Performance

The stock has a market capitalization of $551.09 million, a P/E ratio of 9.75 and a beta of 0.67. The stock has a 50 day moving average of $25.15 and a 200 day moving average of $23.89. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%.The firm had revenue of $47.25 million during the quarter, compared to the consensus estimate of $45.64 million. Equities analysts predict that Civista Bancshares, Inc. will post 2.84 EPS for the current year.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.7%. Civista Bancshares’s dividend payout ratio is presently 26.47%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CIVB. NewEdge Advisors LLC grew its stake in shares of Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after purchasing an additional 481 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Civista Bancshares by 306.6% in the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after purchasing an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Civista Bancshares by 111.4% in the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after purchasing an additional 2,107 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Civista Bancshares by 784.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock worth $111,000 after purchasing an additional 4,253 shares in the last quarter. Institutional investors own 52.10% of the company’s stock.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.