CoBiz Financial Inc (NASDAQ:COBZ) has received a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.50.
A number of analysts have weighed in on COBZ shares. Zacks Investment Research lowered shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. BidaskClub upgraded shares of CoBiz Financial from a “sell” rating to a “hold” rating in a research report on Saturday, March 17th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $23.00 target price on shares of CoBiz Financial in a research report on Friday, December 22nd. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Sandler O’Neill set a $24.00 target price on shares of CoBiz Financial and gave the company a “buy” rating in a research report on Monday, January 29th.
COBZ stock traded down $0.38 during midday trading on Friday, hitting $19.68. 54,615 shares of the company traded hands, compared to its average volume of 122,744. 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 $866.29, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 1.66 and a beta of 1.19. CoBiz Financial has a twelve month low of $15.39 and a twelve month high of $22.01.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $43.09 million for the quarter, compared to analyst estimates of $43.10 million. equities research analysts predict that CoBiz Financial will post 1.23 earnings per share for the current year.
In other news, CEO Steven Bangert sold 3,941 shares of CoBiz Financial stock in a transaction on Friday, March 9th. The shares were sold at an average price of $19.90, for a total transaction of $78,425.90. Following the transaction, the chief executive officer now owns 1,022,724 shares in the company, valued at $20,352,207.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher S. Huss sold 2,500 shares of CoBiz Financial stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $19.73, for a total transaction of $49,325.00. Following the transaction, the insider now owns 32,868 shares in the company, valued at approximately $648,485.64. The disclosure for this sale can be found here. Insiders sold 17,691 shares of company stock worth $352,013 in the last 90 days. Company insiders own 9.47% of the company’s stock.
Large investors have recently modified their holdings of the company. Simplex Trading LLC acquired a new position in shares of CoBiz Financial during the fourth quarter worth $116,000. GSA Capital Partners LLP acquired a new position in shares of CoBiz Financial during the third quarter worth $206,000. Keybank National Association OH acquired a new position in shares of CoBiz Financial during the third quarter worth $224,000. Teacher Retirement System of Texas acquired a new position in shares of CoBiz Financial during the fourth quarter worth $258,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of CoBiz Financial during the fourth quarter worth $277,000. Institutional investors own 82.05% of the company’s stock.
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About CoBiz Financial
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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