CoBiz Financial Inc (NASDAQ:COBZ) – Equities researchers at DA Davidson increased their Q1 2018 earnings per share estimates for CoBiz Financial in a research report issued on Monday. DA Davidson analyst J. Rulis now anticipates that the bank will post earnings of $0.29 per share for the quarter, up from their prior estimate of $0.28. DA Davidson also issued estimates for CoBiz Financial’s Q2 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.30 EPS, Q4 2018 earnings at $0.31 EPS and FY2019 earnings at $1.35 EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a report on Friday, December 29th. BidaskClub raised CoBiz Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. ValuEngine cut CoBiz Financial from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $23.00 target price on shares of CoBiz Financial in a report on Friday, December 22nd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $21.13.
Shares of CoBiz Financial (NASDAQ COBZ) opened at $20.69 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $876.00, a PE ratio of 21.84, a price-to-earnings-growth ratio of 1.74 and a beta of 1.26. CoBiz Financial has a twelve month low of $15.39 and a twelve month high of $22.01.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Monday, January 29th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Friday, January 26th. This represents a $0.22 annualized dividend and a dividend yield of 1.06%. CoBiz Financial’s dividend payout ratio (DPR) is 27.85%.
In other news, CEO Steven Bangert sold 2,883 shares of CoBiz Financial stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $20.45, for a total value of $58,957.35. Following the sale, the chief executive officer now directly owns 1,008,359 shares of the company’s stock, valued at $20,620,941.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Simplex Trading LLC purchased a new position in CoBiz Financial in the fourth quarter worth about $116,000. Legal & General Group Plc grew its position in CoBiz Financial by 4.2% in the second quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock worth $160,000 after acquiring an additional 371 shares in the last quarter. GSA Capital Partners LLP purchased a new position in CoBiz Financial in the third quarter worth about $206,000. Keybank National Association OH purchased a new position in CoBiz Financial in the third quarter worth about $224,000. Finally, Parametric Portfolio Associates LLC grew its position in CoBiz Financial by 16.3% in the second quarter. Parametric Portfolio Associates LLC now owns 14,992 shares of the bank’s stock worth $261,000 after acquiring an additional 2,105 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.
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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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