Civista Bancshares Inc (NASDAQ:CIVB) announced a quarterly dividend on Monday, April 15th, Fidelity reports. Shareholders of record on Tuesday, April 23rd will be paid a dividend of 0.11 per share by the bank on Wednesday, May 1st. This represents a $0.44 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Monday, April 22nd. This is a positive change from Civista Bancshares’s previous quarterly dividend of $0.09.
Civista Bancshares has increased its dividend by an average of 47.4% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Civista Bancshares has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Civista Bancshares to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 16.7%.
Shares of Civista Bancshares stock opened at $21.92 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.77. Civista Bancshares has a fifty-two week low of $15.55 and a fifty-two week high of $25.88. The firm has a market capitalization of $337.97 million, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.34 and a beta of 0.82.
In related news, insider W Michael Mclaughlin sold 11,000 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $21.11, for a total transaction of $232,210.00. Following the completion of the sale, the insider now owns 12,287 shares in the company, valued at approximately $259,378.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.45% of the company’s stock.
An institutional investor recently raised its position in Civista Bancshares stock. Geode Capital Management LLC raised its stake in Civista Bancshares Inc (NASDAQ:CIVB) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,119 shares of the bank’s stock after acquiring an additional 10,484 shares during the quarter. Geode Capital Management LLC owned about 0.89% of Civista Bancshares worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 51.92% of the company’s stock.
A number of research firms have recently commented on CIVB. TheStreet raised shares of Civista Bancshares from a “c+” rating to a “b” rating in a report on Friday, February 15th. Zacks Investment Research downgraded shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Monday, January 7th. BidaskClub downgraded shares of Civista Bancshares from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 26th. Finally, ValuEngine upgraded shares of Civista Bancshares from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.50.
Civista Bancshares Company Profile
Civista Bancshares, Inc operates as the financial holding company for Civista Bank that engages in the community banking business in Ohio. The company accepts noninterest-bearing and interest-bearing demand deposits, and certificates of deposit. It offers commercial, commercial and residential real estate mortgage, real estate construction, and consumer loans.
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