Civista Bancshares (NASDAQ:CIVB) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.43 and traded as high as $28.13. Civista Bancshares shares last traded at $27.88, with a volume of 155,881 shares trading hands.

Analyst Upgrades and Downgrades

CIVB has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Civista Bancshares in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Wall Street Zen lowered shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Piper Sandler increased their price objective on shares of Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.20.

Civista Bancshares Stock Up 1.1%

The firm has a market cap of $586.41 million, a price-to-earnings ratio of 10.37 and a beta of 0.67. The stock has a 50-day moving average of $26.47 and a 200-day moving average of $24.47. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38.

Civista Bancshares (NASDAQ:CIVB) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $47.25 million for the quarter, compared to analyst estimates of $45.64 million. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%. As a group, sell-side analysts forecast that Civista Bancshares, Inc. will post 2.82 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio (DPR) is 26.47%.

Institutional Trading of Civista Bancshares

Several hedge funds have recently bought and sold shares of CIVB. NewEdge Advisors LLC grew its position in Civista Bancshares by 57.5% in 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 during the last quarter. Federated Hermes Inc. raised its holdings in shares of Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after buying an additional 1,015 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Civista Bancshares by 628.2% during the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after buying an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Civista Bancshares by 111.4% during the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after buying an additional 2,107 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Civista Bancshares by 784.7% during the second quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock worth $111,000 after buying an additional 4,253 shares during the period. 52.10% of the stock is currently owned by institutional investors.

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.