CoBiz Financial Inc. (NASDAQ:COBZ) EVP David Pass sold 993 shares of CoBiz Financial stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $17.81, for a total value of $17,685.33. Following the completion of the transaction, the executive vice president now owns 13,718 shares in the company, valued at approximately $244,317.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of CoBiz Financial Inc. (NASDAQ COBZ) traded down 1.29% during mid-day trading on Friday, hitting $16.87. The company had a trading volume of 73,809 shares. The firm has a 50-day moving average price of $17.32 and a 200 day moving average price of $16.89. The firm has a market capitalization of $697.76 million, a P/E ratio of 18.96 and a beta of 1.20. CoBiz Financial Inc. has a 12 month low of $11.80 and a 12 month high of $18.85.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. CoBiz Financial had a net margin of 21.97% and a return on equity of 12.09%. The business had revenue of $40.32 million for the quarter, compared to the consensus estimate of $39.88 million. On average, equities research analysts forecast that CoBiz Financial Inc. will post $0.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were paid a $0.055 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This is an increase from CoBiz Financial’s previous quarterly dividend of $0.05. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.30%. CoBiz Financial’s dividend payout ratio is 24.72%.
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Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in CoBiz Financial by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,908,216 shares of the bank’s stock valued at $33,203,000 after buying an additional 57,691 shares during the last quarter. Citadel Advisors LLC increased its position in CoBiz Financial by 137.6% in the second quarter. Citadel Advisors LLC now owns 61,764 shares of the bank’s stock valued at $1,075,000 after buying an additional 35,764 shares during the last quarter. Parametric Portfolio Associates LLC increased 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 valued at $261,000 after buying an additional 2,105 shares during the last quarter. California Public Employees Retirement System boosted its stake in CoBiz Financial by 4.2% in the second quarter. California Public Employees Retirement System now owns 92,200 shares of the bank’s stock worth $1,604,000 after buying an additional 3,700 shares during the period. Finally, FMR LLC boosted its stake in CoBiz Financial by 2.4% in the second quarter. FMR LLC now owns 1,509,947 shares of the bank’s stock worth $26,273,000 after buying an additional 35,735 shares during the period. 81.62% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. BidaskClub downgraded CoBiz Financial from a “buy” rating to a “hold” rating in a report on Saturday. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, July 26th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $19.50 target price on shares of CoBiz Financial in a report on Wednesday, July 26th. Finally, DA Davidson reissued a “neutral” rating on shares of CoBiz Financial in a report on Friday, July 21st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $19.13.
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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