Civista Bancshares (NASDAQ:CIVB) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Analysts Set New Price Targets

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

Civista Bancshares Stock Up 1.0%

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $467.89 million, a P/E ratio of 8.48 and a beta of 0.68. The stock’s fifty day moving average is $23.35 and its two-hundred day moving average is $22.45.

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

Civista Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were given a $0.18 dividend. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.2%. Civista Bancshares’s dividend payout ratio is 27.07%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CIVB. NewEdge Advisors LLC increased its position in shares of Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock worth $29,000 after acquiring an additional 481 shares in the last quarter. Federated Hermes Inc. grew its position in Civista Bancshares by 306.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares in the last quarter. Caldwell Trust Co acquired a new stake in Civista Bancshares during the 2nd quarter valued at $32,000. Osaic Holdings Inc. lifted its holdings in shares of Civista Bancshares by 628.2% in the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after purchasing an additional 2,783 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of 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 buying an additional 2,107 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

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.