CoBiz Financial Inc. (NASDAQ:COBZ) COO Richard J. Dalton sold 10,004 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $20.76, for a total value of $207,683.04. Following the transaction, the chief operating officer now directly owns 74,078 shares of the company’s stock, valued at approximately $1,537,859.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
CoBiz Financial Inc. (NASDAQ:COBZ) traded up $0.27 during trading hours on Friday, reaching $20.11. The company had a trading volume of 172,000 shares, compared to its average volume of 106,086. The firm has a market capitalization of $837.91, a price-to-earnings ratio of 21.80, a PEG ratio of 2.05 and a beta of 1.27. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. CoBiz Financial Inc. has a fifty-two week low of $14.42 and a fifty-two week high of $21.35.
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 Zacks’ consensus estimate of $0.23 by $0.04. CoBiz Financial had a return on equity of 12.06% and a net margin of 21.95%. The firm had revenue of $42.76 million for the quarter, compared to analyst estimates of $41.13 million. sell-side analysts anticipate that CoBiz Financial Inc. will post 0.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Monday, October 30th were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Friday, October 27th. CoBiz Financial’s payout ratio is 24.18%.
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Several hedge funds have recently made changes to their positions in COBZ. Swiss National Bank boosted its stake in shares of CoBiz Financial by 4.8% during the first quarter. Swiss National Bank now owns 61,500 shares of the bank’s stock valued at $1,033,000 after purchasing an additional 2,800 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of CoBiz Financial by 4.1% during the first quarter. Parametric Portfolio Associates LLC now owns 12,887 shares of the bank’s stock valued at $217,000 after purchasing an additional 504 shares in the last quarter. American International Group Inc. boosted its stake in shares of CoBiz Financial by 7.1% during the first quarter. American International Group Inc. now owns 22,906 shares of the bank’s stock valued at $385,000 after purchasing an additional 1,517 shares in the last quarter. FMR LLC boosted its stake in shares of CoBiz Financial by 4.8% during the first quarter. FMR LLC now owns 1,474,212 shares of the bank’s stock valued at $24,767,000 after purchasing an additional 67,565 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of CoBiz Financial by 5.3% during the first quarter. Teachers Advisors LLC now owns 90,573 shares of the bank’s stock valued at $1,522,000 after purchasing an additional 4,563 shares in the last quarter. 83.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday, October 24th. ValuEngine cut CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub lowered CoBiz Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $19.50 price objective on shares of CoBiz Financial in a research note on Wednesday, July 26th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of CoBiz Financial in a research note on Friday, July 21st. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $20.13.
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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