Civista Bancshares (NASDAQ:CIVB) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Civista Bancshares, Inc. (NASDAQ:CIVB) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.00 and traded as high as $27.46. Civista Bancshares shares last traded at $27.42, with a volume of 150,241 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CIVB. Zacks Research raised Civista Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Piper Sandler lifted their target price on Civista Bancshares from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Civista Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Civista Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.20.

Civista Bancshares Stock Performance

The company’s 50 day moving average price is $25.48 and its 200-day moving average price is $24.04. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $580.05 million, a PE ratio of 10.26 and a beta of 0.67.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%.The business had revenue of $47.25 million for the quarter, compared to the consensus estimate of $45.64 million. Equities research analysts anticipate that Civista Bancshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Civista Bancshares’s dividend payout ratio is currently 26.47%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC raised its stake in Civista Bancshares by 57.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after acquiring an additional 481 shares during the period. Federated Hermes Inc. boosted its position in Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock worth $31,000 after purchasing an additional 1,015 shares during the period. Osaic Holdings Inc. boosted its position in Civista Bancshares by 628.2% during the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock worth $75,000 after purchasing an additional 2,783 shares during the period. BNP Paribas Financial Markets increased its stake 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 purchasing an additional 2,107 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Civista Bancshares by 784.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock worth $111,000 after purchasing an additional 4,253 shares in the last quarter. Institutional investors own 52.10% of the company’s stock.

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.