Civista Bancshares (NASDAQ:CIVB) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Civista Bancshares, Inc. (NASDAQ:CIVB) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.43 and traded as high as $28.99. Civista Bancshares shares last traded at $28.51, with a volume of 184,600 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CIVB shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Civista Bancshares in a report on Friday, July 24th. Piper Sandler raised their target price on Civista Bancshares from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. DA Davidson boosted their target price on Civista Bancshares from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Civista Bancshares in a research note on Wednesday, July 8th. Finally, Zacks Research lowered Civista Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Civista Bancshares presently has an average rating of “Moderate Buy” and an average price target of $30.25.

Civista Bancshares Trading Down 0.4%

The firm has a market cap of $592.72 million, a price-to-earnings ratio of 10.56 and a beta of 0.66. The firm’s 50-day moving average is $28.05 and its 200-day moving average is $25.43. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.41.

Civista Bancshares (NASDAQ:CIVB) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. Civista Bancshares had a net margin of 20.79% and a return on equity of 10.65%. The firm had revenue of $47.60 million for the quarter, compared to the consensus estimate of $48.08 million. As a group, sell-side analysts anticipate that Civista Bancshares, Inc. will post 2.83 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. Civista Bancshares’s dividend payout ratio is currently 26.67%.

Hedge Funds Weigh In On Civista Bancshares

A number of hedge funds have recently added to or reduced their stakes in CIVB. NewEdge Advisors LLC increased its holdings in Civista Bancshares by 57.5% during the 4th 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Civista Bancshares by 5.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,832 shares of the bank’s stock valued at $179,000 after buying an additional 485 shares during the last quarter. Barclays PLC grew its holdings in Civista Bancshares by 0.9% during the third quarter. Barclays PLC now owns 54,603 shares of the bank’s stock worth $1,109,000 after buying an additional 498 shares in the last quarter. CWM LLC raised its position in Civista Bancshares by 12.1% in the 4th quarter. CWM LLC now owns 8,249 shares of the bank’s stock valued at $183,000 after buying an additional 893 shares during the last quarter. Finally, Vista Investment Management lifted its stake in Civista Bancshares by 5.3% during the 4th quarter. Vista Investment Management now owns 18,183 shares of the bank’s stock valued at $404,000 after acquiring an additional 915 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

About Civista Bancshares

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.