CoBiz Financial Inc (COBZ) to Post Q1 2018 Earnings of $0.29 Per Share, DA Davidson Forecasts

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.

COPYRIGHT VIOLATION WARNING: “CoBiz Financial Inc (COBZ) to Post Q1 2018 Earnings of $0.29 Per Share, DA Davidson Forecasts” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another website, it was stolen and reposted in violation of U.S. and international copyright law. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2018/01/30/cobiz-financial-inc-cobz-to-post-q1-2018-earnings-of-0-29-per-share-da-davidson-forecasts.html.

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.

Receive News & Ratings for CoBiz Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoBiz Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply