Civista Bancshares (NASDAQ:CIVB) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Civista Bancshares (NASDAQ:CIVB) announced its quarterly earnings data on Monday. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05, Yahoo Finance reports. The business had revenue of $61.14 million during the quarter, compared to analysts’ expectations of $36.57 million. Civista Bancshares had a return on equity of 10.23% and a net margin of 16.38%. During the same quarter last year, the business posted $0.64 EPS.

Civista Bancshares Stock Up 2.3 %

CIVB stock traded up $0.41 during trading on Tuesday, hitting $17.86. 814 shares of the company’s stock were exchanged, compared to its average volume of 34,598. The business has a 50-day moving average price of $15.22 and a two-hundred day moving average price of $15.30. The stock has a market capitalization of $280.94 million, a price-to-earnings ratio of 7.49 and a beta of 0.82. Civista Bancshares has a 52-week low of $13.60 and a 52-week high of $19.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.31.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.58%. The ex-dividend date is Tuesday, August 6th. Civista Bancshares’s payout ratio is 27.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Civista Bancshares in a research note on Tuesday. Hovde Group assumed coverage on Civista Bancshares in a research note on Monday, April 1st. They issued a “market perform” rating and a $16.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

About Civista Bancshares

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.