CoBiz Financial Inc (NASDAQ:COBZ) EVP Richard J. Dalton sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $19.90, for a total transaction of $199,000.00. Following the completion of the transaction, the executive vice president now directly owns 73,259 shares of the company’s stock, valued at approximately $1,457,854.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
CoBiz Financial Inc (NASDAQ COBZ) opened at $20.15 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $850.24, a P/E ratio of 21.19, a PEG ratio of 1.63 and a beta of 1.19. CoBiz Financial Inc has a 52-week low of $15.39 and a 52-week high of $22.01.
CoBiz Financial (NASDAQ:COBZ) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). CoBiz Financial had a return on equity of 12.44% and a net margin of 18.58%. The company had revenue of $43.09 million for the quarter, compared to analyst estimates of $43.10 million. analysts forecast that CoBiz Financial Inc will post 1.23 EPS for the current year.
A number of hedge funds have recently modified their holdings of COBZ. Parametric Portfolio Associates LLC increased its position in CoBiz Financial by 16.3% during the second quarter. Parametric Portfolio Associates LLC now owns 14,992 shares of the bank’s stock worth $261,000 after purchasing an additional 2,105 shares during the last quarter. State Street Corp increased its position in CoBiz Financial by 7.0% during the second quarter. State Street Corp now owns 703,050 shares of the bank’s stock worth $12,233,000 after purchasing an additional 46,139 shares during the last quarter. Victory Capital Management Inc. acquired a new position in CoBiz Financial during the third quarter worth approximately $9,550,000. Chicago Equity Partners LLC acquired a new position in CoBiz Financial during the third quarter worth approximately $947,000. Finally, Keybank National Association OH acquired a new position in CoBiz Financial during the third quarter worth approximately $224,000. 82.28% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on COBZ. Sandler O’Neill set a $24.00 price objective on shares of CoBiz Financial and gave the company a “buy” rating in a research report on Monday, January 29th. BidaskClub lowered shares of CoBiz Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. ValuEngine raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Piper Jaffray Companies reissued a “hold” rating on shares of CoBiz Financial in a research report on Tuesday, January 30th. Finally, Zacks Investment Research lowered shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $22.38.
CoBiz Financial Company Profile
CoBiz Financial Inc is a financial holding company. The Company provides a range of banking and related services through its subsidiaries, CoBiz Bank (Bank), CoBiz Insurance, Inc and CoBiz IM, Inc (CoBiz IM). The Company’s segments include Commercial Banking, Fee-Based Lines, and Corporate Support and Other.
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