Civista Bancshar Stock Price, News & Analysis

Civista Bancshares, Inc. (CIVB) reported a strong first quarter for 2021, achieving a net income of $10.8 million or $0.68 per diluted share, up from $7.8 million or $0.47 per diluted share in Q1 2020. The bank's quarterly dividend rose to $0.12, yielding 2.09%. Despite a net interest margin decrease to 3.30%, net interest income increased $1.7 million to $23.8 million, bolstered by PPP loan fees. Total assets rose 10.7% to $3.21 billion, and noninterest income surged 33.7% to $9.2 million.

Civista Bancshares, Inc. (NASDAQ:CIVB) has announced a new stock repurchase program, authorizing the purchase of up to $13.5 million of its common shares. This program replaces the previous one, which expired on April 20, 2021, and resulted in $6.9 million in shares repurchased. CEO Dennis G. Shaffer stated that this repurchase aims to enhance shareholder value, building on efforts initiated in late 2020. The program will remain active until April 19, 2022, with no guarantees on the number of shares purchased based on market conditions and company performance.

Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend of 12 cents per common share, totaling approximately $1.9 million. Shareholders of record by April 20, 2021 will receive this dividend, payable on May 1, 2021. Based on the April 8 closing stock price of $23.27, the annualized yield stands at 2.06%. Civista, a financial holding company with a total asset value of $2.8 billion, operates through 37 banking locations across Ohio, Indiana, and Kentucky.

Civista Bancshares, Inc. (NASDAQ: CIVB) announced it will release its first quarter 2021 financial results on April 23, 2021, before market opening. A conference call is scheduled for 1:00 p.m. ET on the same day to discuss these results. Analysts will have an opportunity to participate in a Q&A session. Civista, a financial holding company based in Sandusky, Ohio, operates 37 banking locations across Ohio, Indiana, and Kentucky, managing approximately $2.8 billion in assets.

Civista Bancshares (CIVB) reported Q4 2020 net income of $10.2 million, or $0.64 per share, up from $7.7 million ($0.47 per share) a year prior. However, total annual net income decreased to $32.2 million from $33.2 million in 2019. Notably, pre-tax, pre-provision net income reached a record $47.2 million. COVID-19 loan deferrals were down to 4% of total loans, with no specific loan losses reported. The dividend was increased by 9.1% to $0.12 per share, yielding 2.65%. Total deposits surged by 30.4% to $2.2 billion, driven by significant growth in both noninterest and interest-bearing deposits.

Civista Bancshares, Inc. (NASDAQ: CIVB) will release its 2020 financial results on February 5, 2021, before market open. A conference call is scheduled for 1:00 p.m. ET on the same day to discuss these results. Interested analysts can engage in a Q&A session following the presentation. Civista, with assets of $2.8 billion, operates 37 branches across regions in Ohio, Indiana, and Kentucky. The company emphasizes a forward-looking approach regarding its financial performance and business strategies.

Civista Bancshares (CIVB) reported Q3 2020 net income of $7.7 million ($0.48/share), up from $7.5 million ($0.46/share) in Q3 2019. For the nine-months ending September 30, 2020, net income was $22.0 million ($1.36/share), down from $25.5 million ($1.54/share) in 2019. Net interest income rose 7.8% to $22.0 million, while net interest margin fell to 3.44%. Noninterest income increased by 25.0% to $6.8 million. Total assets grew 22.0% to $2.83 billion, driven by a significant increase in loans, particularly from the Paycheck Protection Program, and total deposits rose 23.2%.

Civista Bancshares, Inc. (CIVB) announced that it will release its third quarter 2020 financial results on October 23, 2020, before market open. A conference call will be held at 1:00 p.m. ET on the same day to discuss the results, allowing analysts to engage in a Q&A session. Civista, a $2.8 billion financial holding company based in Sandusky, Ohio, operates 37 banking locations across several states. The company trades on the NASDAQ under the symbol CIVB.

Civista Bancshares, Inc. (NASDAQ:CIVB) reported a net income of $6.5 million, or $0.41 per diluted share for Q2 2020, down from $8.5 million, or $0.51 per share a year ago. For the first half of 2020, net income was $14.3 million compared to $18.0 million in 2019. The bank's provision for loan losses rose to $3.5 million amid economic uncertainties from COVID-19. Total assets increased by 21.8% to $2.8 billion, driven by an 18.4% rise in the loan portfolio. Noninterest income grew by 34.3%, primarily from increased gains on loan sales.