Wall Street analysts predict that CoBiz Financial Inc. (NASDAQ:COBZ) will announce $43.66 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for CoBiz Financial’s earnings. The lowest sales estimate is $42.91 million and the highest is $44.40 million. CoBiz Financial posted sales of $38.41 million in the same quarter last year, which suggests a positive year over year growth rate of 13.7%. The business is expected to report its next earnings report on Thursday, April 26th.
On average, analysts expect that CoBiz Financial will report full-year sales of $43.66 million for the current fiscal year, with estimates ranging from $177.18 million to $185.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $197.09 million per share, with estimates ranging from $192.88 million to $201.30 million. Zacks’ sales averages are an average based on a survey of analysts that follow CoBiz Financial.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The firm had revenue of $43.09 million during the quarter, compared to analysts’ expectations of $43.10 million. CoBiz Financial had a net margin of 18.58% and a return on equity of 12.44%.
Several equities research analysts have commented 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. Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 target price on shares of CoBiz Financial in a research report on Friday, December 22nd. BidaskClub lowered shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Piper Jaffray restated a “hold” rating on shares of CoBiz Financial in a research report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.38.
Shares of NASDAQ COBZ traded up $0.21 during trading on Friday, hitting $19.74. 105,985 shares of the company were exchanged, compared to its average volume of 125,341. The firm has a market capitalization of $830.39, a P/E ratio of 20.78, a PEG ratio of 1.59 and a beta of 1.18. CoBiz Financial has a 1 year low of $15.39 and a 1 year high of $22.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95.
In other news, CEO Steven Bangert sold 3,941 shares of CoBiz Financial stock in a transaction on Friday, March 9th. The stock was sold at an average price of $19.90, for a total transaction of $78,425.90. Following the completion of the transaction, the chief executive officer now owns 1,022,724 shares of the company’s stock, valued at approximately $20,352,207.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $49,325.00. Following the transaction, the insider now directly owns 32,868 shares of the company’s stock, valued at approximately $648,485.64. The disclosure for this sale can be found here. Insiders have sold a total of 17,691 shares of company stock worth $352,013 over the last 90 days. Insiders own 9.47% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Martin & Co. Inc. TN raised its stake in shares of CoBiz Financial by 57.6% during the 3rd quarter. Martin & Co. Inc. TN now owns 111,009 shares of the bank’s stock worth $2,180,000 after buying an additional 40,585 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of CoBiz Financial by 5.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 190,111 shares of the bank’s stock worth $3,734,000 after buying an additional 10,010 shares during the last quarter. Grandeur Peak Global Advisors LLC acquired a new position in shares of CoBiz Financial during the 3rd quarter worth $697,000. Goldman Sachs Group Inc. raised its stake in shares of CoBiz Financial by 1.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,836,760 shares of the bank’s stock worth $36,717,000 after buying an additional 29,708 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of CoBiz Financial during the 4th quarter worth $293,000. 82.26% of the stock is owned by institutional investors and hedge funds.
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About CoBiz Financial
CoBiz Financial Inc, a diversified financial services company, provides various financial products and services in the United States. It operates through Commercial Banking and Fee-Based Lines segments. The Commercial Banking segment offers commercial, real estate, and private banking services, as well as treasury management, interest-rate hedging, and depository products.
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