CoBiz Financial Inc (NASDAQ:COBZ) Director Michael B. Burgamy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $16.70, for a total value of $25,050.00. Following the completion of the sale, the director now owns 236,321 shares in the company, valued at approximately $3,946,560.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of CoBiz Financial Inc (NASDAQ:COBZ) traded down 0.19% during trading on Friday, reaching $15.82. The company had a trading volume of 92,338 shares. CoBiz Financial Inc has a 1-year low of $10.86 and a 1-year high of $17.99. The company’s 50 day moving average is $16.58 and its 200-day moving average is $16.41. The stock has a market capitalization of $653.65 million, a price-to-earnings ratio of 18.40 and a beta of 1.24.
CoBiz Financial (NASDAQ:COBZ) last issued its quarterly earnings results on Thursday, April 27th. The bank reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $38.41 million for the quarter, compared to the consensus estimate of $40 million. CoBiz Financial had a return on equity of 12.18% and a net margin of 21.55%. On average, equities research analysts anticipate that CoBiz Financial Inc will post $0.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 8th. Stockholders of record on Monday, May 1st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Thursday, April 27th. CoBiz Financial’s payout ratio is presently 23.53%.
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COBZ has been the topic of several recent research reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $18.00 price target on shares of CoBiz Financial in a research note on Tuesday, May 2nd. Zacks Investment Research downgraded CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Piper Jaffray Companies began coverage on CoBiz Financial in a research note on Thursday, April 13th. They set a “neutral” rating and a $18.50 target price on the stock. Finally, Hovde Group upgraded CoBiz Financial from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Friday, March 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.63.
Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of CoBiz Financial by 22.9% in the first quarter. Wellington Management Group LLP now owns 2,819,215 shares of the bank’s stock worth $47,363,000 after buying an additional 524,536 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of CoBiz Financial by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,850,525 shares of the bank’s stock worth $31,089,000 after buying an additional 35,360 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of CoBiz Financial by 8.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,684,676 shares of the bank’s stock worth $28,303,000 after buying an additional 127,945 shares during the period. Vanguard Group Inc. raised its stake in shares of CoBiz Financial by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,668,392 shares of the bank’s stock worth $28,030,000 after buying an additional 56,641 shares during the period. Finally, FMR LLC raised its stake in shares of CoBiz Financial by 4.8% in the first quarter. FMR LLC now owns 1,474,212 shares of the bank’s stock worth $24,767,000 after buying an additional 67,565 shares during the period. 81.11% of the stock is currently owned by institutional investors and hedge funds.
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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