Civista Bancshares (NASDAQ:CIVB) Shares Pass Above 200 Day Moving Average – What’s Next?

Civista Bancshares, Inc. (NASDAQ:CIVB)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.67 and traded as high as $22.39. Civista Bancshares shares last traded at $22.32, with a volume of 46,565 shares trading hands.

Analyst Ratings Changes

CIVB has been the subject of several analyst reports. 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 note on Thursday, August 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $19.00 price objective (up previously from $18.00) on shares of Civista Bancshares in a research note on Tuesday, July 30th. Stephens increased their target price on shares of Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Civista Bancshares Price Performance

The firm has a market capitalization of $351.95 million, a PE ratio of 11.09 and a beta of 0.78. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50 day moving average is $19.00 and its two-hundred day moving average is $16.78.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) 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 company had revenue of $62.43 million during the quarter, compared to the consensus estimate of $37.60 million. During the same period in the previous year, the firm posted $0.66 EPS. As a group, research analysts anticipate that Civista Bancshares, Inc. will post 1.91 EPS for the current year.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Tuesday, November 5th. Civista Bancshares’s dividend payout ratio (DPR) is presently 31.84%.

Institutional Investors Weigh In On Civista Bancshares

Institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its stake in Civista Bancshares by 130.8% in the third quarter. Assenagon Asset Management S.A. now owns 63,456 shares of the bank’s stock worth $1,131,000 after purchasing an additional 35,968 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Civista Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock worth $12,501,000 after buying an additional 8,797 shares during the period. Hsbc Holdings PLC boosted its position in Civista Bancshares by 30.9% during the 2nd quarter. Hsbc Holdings PLC now owns 21,127 shares of the bank’s stock valued at $318,000 after buying an additional 4,985 shares during the period. Inspire Investing LLC purchased a new stake in Civista Bancshares during the 3rd quarter valued at $926,000. Finally, BNP Paribas Financial Markets grew its holdings in Civista Bancshares by 53.3% in the 1st quarter. BNP Paribas Financial Markets now owns 28,613 shares of the bank’s stock worth $440,000 after acquiring an additional 9,953 shares during the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Company Profile

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.