CoBiz Financial Inc. (NASDAQ:COBZ) Director Mary Beth Vitale sold 2,000 shares of CoBiz Financial stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $20.59, for a total transaction of $41,180.00. Following the transaction, the director now directly owns 2,715 shares of the company’s stock, valued at approximately $55,901.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
CoBiz Financial Inc. (COBZ) traded up $0.09 on Friday, reaching $20.34. 120,638 shares of the company’s stock traded hands, compared to its average volume of 187,001. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $862.83 million, a P/E ratio of 22.45, a P/E/G ratio of 2.11 and a beta of 1.27.
CoBiz Financial (NASDAQ:COBZ) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. CoBiz Financial had a net margin of 21.95% and a return on equity of 12.06%. The company had revenue of $42.76 million for the quarter, compared to the consensus estimate of $41.13 million. equities research analysts expect that CoBiz Financial Inc. will post 0.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Monday, October 30th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Friday, October 27th. This represents a $0.22 annualized dividend and a yield of 1.08%. CoBiz Financial’s dividend payout ratio (DPR) is presently 24.18%.
A number of large investors have recently modified their holdings of the stock. Sit Investment Associates Inc. boosted its position in CoBiz Financial by 14.8% in the 2nd quarter. Sit Investment Associates Inc. now owns 20,375 shares of the bank’s stock worth $355,000 after purchasing an additional 2,625 shares in the last quarter. Citadel Advisors LLC boosted its position in CoBiz Financial by 137.6% in the 2nd quarter. Citadel Advisors LLC now owns 61,764 shares of the bank’s stock worth $1,075,000 after purchasing an additional 35,764 shares in the last quarter. Swiss National Bank boosted its position in CoBiz Financial by 4.8% in the 1st quarter. Swiss National Bank now owns 61,500 shares of the bank’s stock worth $1,033,000 after purchasing an additional 2,800 shares in the last quarter. Bridge City Capital LLC boosted its position in CoBiz Financial by 8.7% in the 3rd quarter. Bridge City Capital LLC now owns 88,293 shares of the bank’s stock worth $1,734,000 after purchasing an additional 7,092 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in CoBiz Financial by 14.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 180,101 shares of the bank’s stock worth $3,134,000 after purchasing an additional 22,121 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.
Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a research note on Tuesday, October 24th. ValuEngine downgraded shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $19.50 price target on shares of CoBiz Financial in a research note on Wednesday, July 26th. BidaskClub raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. 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 given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $20.13.
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.
What are top analysts saying about CoBiz Financial Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for CoBiz Financial Inc. and related companies.