Civista Bancshares, Inc. (NASDAQ:CIVB) Stock to Pay Quarterly Dividend of $0.18

Civista Bancshares, Inc. (NASDAQ:CIVB) declared a quarterly dividend on Wednesday, October 21st. Investors of record on Tuesday, November 3rd will be given a dividend of $0.18 per share by the bank on Tuesday, November 17th. This represents a $0.72 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, November 3rd.

Civista Bancshares has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 4 years. Civista Bancshares has a payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Civista Bancshares to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 24.4%.

Civista Bancshares Stock Up 3.5%

Shares of NASDAQ:CIVB traded up $0.94 during midday trading on Thursday, reaching $27.70. The company had a trading volume of 82,821 shares, compared to its average volume of 112,879. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.95 and a quick ratio of 0.94. The stock’s fifty day moving average price is $27.19 and its 200-day moving average price is $26.73. The stock has a market capitalization of $575.89 million, a P/E ratio of 10.27 and a beta of 0.66. Civista Bancshares has a one year low of $20.87 and a one year high of $29.97.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Thursday, October 22nd. The bank reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Civista Bancshares had a return on equity of 10.65% and a net margin of 20.79%. Equities research analysts expect that Civista Bancshares will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CIVB has been the subject of a number of recent analyst reports. Piper Sandler increased their price objective on Civista Bancshares from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Zacks Research downgraded Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a research report on Friday, October 2nd. DA Davidson boosted their price target on Civista Bancshares from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $31.00 price target (up from $29.00) on shares of Civista Bancshares in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.25.

About Civista Bancshares

Civista Bancshares, Inc is a financial holding company headquartered in Sandusky, Ohio. It operates primarily through Civista Bank, a community banking institution that provides financial services to individuals, families, businesses and public-sector organizations.

Civista Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate, consumer, agricultural and commercial loans.