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

Civista Bancshares, Inc. (NASDAQ:CIVB)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.45 and traded as high as $22.69. Civista Bancshares shares last traded at $22.56, with a volume of 92,237 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on CIVB shares. Keefe, Bruyette & Woods raised their target price on shares of Civista Bancshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Hovde Group upped their target price on Civista Bancshares from $23.00 to $26.00 and gave the company a “market perform” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Civista Bancshares in a research report on Monday, December 29th. Zacks Research upgraded Civista Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Finally, DA Davidson restated a “buy” rating and set a $28.00 price objective on shares of Civista Bancshares in a research note on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.00.

Civista Bancshares Trading Up 1.1%

The firm has a 50-day moving average of $23.35 and a 200 day moving average of $22.47. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $478.06 million, a price-to-earnings ratio of 8.67 and a beta of 0.64.

Civista Bancshares (NASDAQ:CIVB) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.14. The company had revenue of $46.34 million during the quarter, compared to analyst estimates of $45.43 million. Civista Bancshares had a return on equity of 10.48% and a net margin of 18.12%. As a group, equities analysts predict that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were given a $0.18 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $0.72 dividend on an annualized basis and a yield of 3.1%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.17. Civista Bancshares’s payout ratio is currently 27.07%.

Hedge Funds Weigh In On Civista Bancshares

Large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its stake in shares of 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 acquiring an additional 481 shares during the period. Federated Hermes Inc. increased its stake 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 acquiring an additional 1,015 shares during the period. Caldwell Trust Co bought a new stake in Civista Bancshares during the second quarter worth approximately $32,000. Osaic Holdings Inc. raised its holdings in Civista Bancshares by 628.2% during 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. Finally, BNP Paribas Financial Markets lifted its position in 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 during the period. Institutional investors and hedge funds 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.