CoBiz Financial Inc. (NASDAQ:COBZ) CEO Steven Bangert sold 5,000 shares of CoBiz Financial stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $20.80, for a total transaction of $104,000.00. Following the transaction, the chief executive officer now directly owns 1,011,242 shares in the company, valued at $21,033,833.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Steven Bangert also recently made the following trade(s):
- On Tuesday, August 8th, Steven Bangert sold 8,000 shares of CoBiz Financial stock. The shares were sold at an average price of $17.62, for a total transaction of $140,960.00.
CoBiz Financial Inc. (NASDAQ COBZ) opened at 20.86 on Friday. The firm’s 50-day moving average is $18.92 and its 200-day moving average is $17.36. CoBiz Financial Inc. has a 12 month low of $12.40 and a 12 month high of $21.35. The firm has a market capitalization of $862.79 million, a PE ratio of 23.44 and a beta of 1.24.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business had revenue of $42.76 million during the quarter, compared to analysts’ expectations of $41.13 million. CoBiz Financial had a return on equity of 12.24% and a net margin of 21.95%. On average, equities research analysts expect that CoBiz Financial Inc. will post $0.96 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Monday, October 30th will be paid a $0.055 dividend. The ex-dividend date is Friday, October 27th. This represents a $0.22 annualized dividend and a dividend yield of 1.05%. CoBiz Financial’s payout ratio is 24.18%.
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A number of research analysts have weighed in on COBZ shares. BidaskClub raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. ValuEngine raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, July 26th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $19.50 price target on shares of CoBiz Financial in a research report on Wednesday, July 26th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of CoBiz Financial in a research report on Friday, July 21st. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. CoBiz Financial presently has an average rating of “Buy” and an average price target of $20.13.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BSW Wealth Partners grew its stake in shares of CoBiz Financial by 0.3% in the 2nd quarter. BSW Wealth Partners now owns 14,399 shares of the bank’s stock valued at $251,000 after buying an additional 43 shares in the last quarter. Rhumbline Advisers grew its stake in shares of CoBiz Financial by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 47,779 shares of the bank’s stock valued at $831,000 after buying an additional 265 shares in the last quarter. Legal & General Group Plc grew its stake in shares of CoBiz Financial by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock valued at $160,000 after buying an additional 371 shares in the last quarter. Martin & Co. Inc. TN grew its stake in shares of CoBiz Financial by 0.6% in the 2nd quarter. Martin & Co. Inc. TN now owns 70,424 shares of the bank’s stock valued at $1,225,000 after buying an additional 415 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of CoBiz Financial by 4.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 12,887 shares of the bank’s stock valued at $217,000 after buying an additional 504 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.
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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