CoBiz Financial (NASDAQ:COBZ) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, September 19th. ValuEngine raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $23.00 target price on shares of CoBiz Financial in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $21.13.
Shares of CoBiz Financial (NASDAQ:COBZ) traded up $0.27 during midday trading on Friday, reaching $20.40. 69,253 shares of the company were exchanged, compared to its average volume of 94,053. The firm has a market cap of $861.55, a price-to-earnings ratio of 22.42, a PEG ratio of 1.71 and a beta of 1.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. CoBiz Financial has a 12-month low of $15.39 and a 12-month high of $22.01.
In other news, CEO Steven Bangert sold 2,000 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $20.48, for a total transaction of $40,960.00. Following the completion of the transaction, the chief executive officer now directly owns 1,006,359 shares in the company, valued at approximately $20,610,232.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher S. Huss sold 5,000 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $20.85, for a total transaction of $104,250.00. Following the transaction, the insider now owns 31,002 shares of the company’s stock, valued at $646,391.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,205 shares of company stock valued at $1,086,023. Company insiders own 9.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of CoBiz Financial by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,908,216 shares of the bank’s stock worth $33,203,000 after buying an additional 57,691 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of CoBiz Financial by 8.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,821,143 shares of the bank’s stock valued at $31,688,000 after purchasing an additional 136,467 shares during the period. Vanguard Group Inc. raised its holdings in shares of CoBiz Financial by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,703,546 shares of the bank’s stock valued at $29,642,000 after purchasing an additional 35,154 shares during the period. FMR LLC raised its holdings in shares of CoBiz Financial by 2.4% in the 2nd quarter. FMR LLC now owns 1,509,947 shares of the bank’s stock valued at $26,273,000 after purchasing an additional 35,735 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of CoBiz Financial by 13.9% in the 3rd quarter. Macquarie Group Ltd. now owns 1,306,780 shares of the bank’s stock valued at $25,665,000 after purchasing an additional 159,512 shares during the period. Institutional investors own 82.89% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “CoBiz Financial (COBZ) Cut to “Sell” at BidaskClub” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.com-unik.info/2018/01/07/cobiz-financial-cobz-cut-to-sell-at-bidaskclub.html.
About CoBiz Financial
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? - 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 and related companies.