Civista Bancshares (NASDAQ:CIVB) Stock Price Crosses Above 200-Day Moving Average of $15.24

Civista Bancshares, Inc. (NASDAQ:CIVB) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.24 and traded as high as $17.01. Civista Bancshares shares last traded at $16.97, with a volume of 31,200 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler raised their target price on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods restated an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Civista Bancshares currently has an average rating of “Hold” and a consensus price target of $18.25.

Civista Bancshares Price Performance

The company has a debt-to-equity ratio of 1.64, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day moving average price of $16.38 and a 200 day moving average price of $15.26. The firm has a market cap of $270.82 million, a PE ratio of 7.39 and a beta of 0.82.

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Monday, July 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $61.14 million for the quarter, compared to analysts’ expectations of $36.57 million. Civista Bancshares had a return on equity of 9.24% and a net margin of 14.48%. During the same quarter in the previous year, the firm posted $0.64 EPS. Sell-side analysts expect that Civista Bancshares, Inc. will post 1.76 EPS for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.64 annualized dividend and a yield of 3.72%. Civista Bancshares’s dividend payout ratio is presently 27.47%.

Insider Transactions at Civista Bancshares

In related news, Director Julie A. Mattlin acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $15.60 per share, for a total transaction of $31,200.00. Following the transaction, the director now directly owns 12,442 shares of the company’s stock, valued at approximately $194,095.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.01% of the company’s stock.

Institutional Trading of Civista Bancshares

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Civista Bancshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock worth $12,501,000 after purchasing an additional 8,797 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Civista Bancshares by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock valued at $12,316,000 after buying an additional 6,234 shares during the period. Wellington Management Group LLP increased its stake in shares of Civista Bancshares by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 605,421 shares of the bank’s stock valued at $11,164,000 after acquiring an additional 5,400 shares during the last quarter. Summit Financial Strategies Inc. lifted its holdings in shares of Civista Bancshares by 3.2% during the 2nd quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank’s stock worth $2,306,000 after acquiring an additional 4,559 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Civista Bancshares by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock worth $1,831,000 after acquiring an additional 4,284 shares during the last quarter. Institutional investors and hedge funds own 52.10% of the company’s stock.

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.