Civista Bancshares (NASDAQ:CIVB) stock identified change of 14.72% away from 52-week low price and recently located move of -45.19% off 52-week high price. It has market worth of $218.61M and dividend yield of 3.30%. CIVB stock has been recorded -19.21% away from 50 day moving average and -35.30% away from 200 day moving average. Moving closer, we can see that shares have been trading -2.94% off 20-day moving average.
On April 24, 2020, Civista Bancshares (NASDAQ:CIVB) disclosed net income available to common shareholders of $7.8 million, or $0.47 per diluted share, for the first quarter of 2020, compared to $9.5 million, or $0.57 per diluted share, for the first quarter of 2019.
We began 2020 with the expectation that one of the biggest challenges we were going to face during the year was an uncertain interest rate environment. The COVID-19 pandemic has created challenges that we, as well as other banks, could not have anticipated. Our organization has risen to the challenge and are working with our customers to assist through these unprecedented times. We have waived overdraft fees, accommodated requests for loan payment deferrals and are participating in the SBA’s Paycheck Protection Program. In light of all of these challenges, we are pleased with our first quarter earnings, said Dennis G. Shaffer, President and CEO of Civista.
Results of Operations:
Net interest income increased $396 thousand, or 1.8%, for the first quarter of 2020 compared to the same period of 2019.
Interest income increased $418 thousand, or 1.7%, for the first quarter of 2020. Average earning assets increased $214.6 million, which resulted in a $2.3 million increase in interest income. Average yields decreased 40 basis points which resulted in a $1.9 million decrease in interest income. Accretion income associated with purchased loan portfolios totaled $755 thousand for the first quarter of 2020 and $982 for the first quarter of 2019.
Interest expense increased $22 thousand, or 0.8%, for the first quarter of 2020 compared to the same period of 2019. Average interest-bearing liabilities increased $110.4 million, resulting in a $360 thousand increase in interest expense. Average rates decreased 7 basis points, resulting in a $338 thousand decrease in interest expense.
The Financial sector company, Civista Bancshares noticed change of 0.45% to $13.33 along volume of 36764 shares in recent session compared to an average volume of 62.23K. The stock observed return of -4.17% in 5 days trading activity. The stock was at -4.31% over one month performance. CIVB’s shares are at -40.70% for the quarter and driving a -38.23% return over the course of the past year and is now at -44.46% since this point in 2018.
The average volatility for the week at 7.29% and for month was at 8.60%. There are 16.40M shares outstanding and 16.08M shares are floated in market. Right now the stock beta is 0.81.