Civista Bancshares, Inc. (NASDAQ:CIVB) Plans Dividend Increase – $0.17 Per Share

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Tuesday, February 4th will be given a dividend of 0.17 per share by the bank on Tuesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 3.23%. This is a boost from Civista Bancshares’s previous quarterly dividend of $0.16.

Civista Bancshares has raised its dividend payment by an average of 7.2% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Civista Bancshares has a dividend payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Civista Bancshares to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 30.8%.

Civista Bancshares Stock Performance

Shares of CIVB opened at $21.06 on Thursday. The firm’s 50 day moving average price is $21.65 and its two-hundred day moving average price is $19.04. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 0.95. Civista Bancshares has a twelve month low of $13.60 and a twelve month high of $23.69. The firm has a market cap of $331.48 million, a P/E ratio of 10.48 and a beta of 0.82.

Civista Bancshares (NASDAQ:CIVB) last announced its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. Civista Bancshares had a net margin of 13.12% and a return on equity of 8.33%. The firm had revenue of $62.43 million during the quarter, compared to analyst estimates of $37.60 million. During the same period in the prior year, the business earned $0.66 EPS. On average, analysts forecast that Civista Bancshares will post 1.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CIVB has been the topic of several research reports. Hovde Group upgraded Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods increased their target price on shares of Civista Bancshares from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Stephens lifted their price target on shares of Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.75.

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.