Mary Beth Vitale Sells 2,000 Shares of CoBiz Financial Inc. (COBZ) Stock

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%.

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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.

Insider Buying and Selling by Quarter for CoBiz Financial (NASDAQ:COBZ)

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