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

Civista Bancshares, Inc. (NASDAQ:CIVB) shares passed 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 changing hands.

Analyst Ratings Changes

Several analysts have recently commented on CIVB shares. Hovde Group raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Wednesday, October 30th. 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $19.00 price objective (up previously from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Finally, Piper Sandler raised their target price on Civista Bancshares from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Civista Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Civista Bancshares Price Performance

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

Civista Bancshares (NASDAQ:CIVB) last released its earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. The company 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 company posted $0.66 earnings per share. As a group, analysts predict that Civista Bancshares, Inc. will post 1.91 earnings per share for the current year.

Civista Bancshares Announces Dividend

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

Institutional Trading of Civista Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC purchased a new stake in shares of Civista Bancshares during the 3rd quarter worth approximately $926,000. Assenagon Asset Management S.A. increased its position 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 buying an additional 35,968 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Civista Bancshares in the second quarter valued at $323,000. Barclays PLC lifted its position in shares of Civista Bancshares by 40.7% during the 3rd quarter. Barclays PLC now owns 51,521 shares of the bank’s stock valued at $917,000 after buying an additional 14,909 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Civista Bancshares by 10,347.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,746 shares of the bank’s stock worth $197,000 after acquiring an additional 12,624 shares during the period. 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.