CoBiz Financial Inc. (NASDAQ:COBZ) has been assigned an average rating of “Buy” from the seven analysts that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $20.13.
Several analysts recently commented on the company. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, September 5th. 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. BidaskClub raised CoBiz Financial from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, DA Davidson reissued a “neutral” rating on shares of CoBiz Financial in a report on Friday, July 21st.
In other CoBiz Financial news, Director Mary Beth Vitale sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $20.59, for a total value of $41,180.00. Following the sale, the director now directly owns 2,715 shares of the company’s stock, valued at $55,901.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven Bangert sold 2,883 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $20.45, for a total value of $58,957.35. Following the completion of the sale, the chief executive officer now directly owns 1,008,359 shares in the company, valued at $20,620,941.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,205 shares of company stock worth $1,045,063. 9.90% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of COBZ. Parametric Portfolio Associates LLC boosted its stake in shares of CoBiz Financial by 4.1% in the first quarter. Parametric Portfolio Associates LLC now owns 12,887 shares of the bank’s stock worth $217,000 after acquiring an additional 504 shares during the last quarter. American International Group Inc. boosted its stake in shares of CoBiz Financial by 7.1% in the first quarter. American International Group Inc. now owns 22,906 shares of the bank’s stock worth $385,000 after acquiring an additional 1,517 shares during the last quarter. FMR LLC boosted 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 acquiring an additional 67,565 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of CoBiz Financial by 5.3% in the first quarter. Teachers Advisors LLC now owns 90,573 shares of the bank’s stock worth $1,522,000 after acquiring an additional 4,563 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of CoBiz Financial by 4.4% in the first quarter. California Public Employees Retirement System now owns 88,500 shares of the bank’s stock worth $1,487,000 after acquiring an additional 3,700 shares during the last quarter. 83.20% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of CoBiz Financial (NASDAQ COBZ) opened at $20.11 on Monday. The company has a market capitalization of $849.31, a PE ratio of 22.10, a P/E/G ratio of 2.08 and a beta of 1.27. CoBiz Financial has a 1-year low of $14.42 and a 1-year high of $21.35. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40.
CoBiz Financial (NASDAQ:COBZ) last posted its earnings results on Thursday, October 19th. The bank reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $42.76 million for the quarter, compared to analyst estimates of $41.13 million. CoBiz Financial had a return on equity of 12.06% and a net margin of 21.95%. analysts predict that CoBiz Financial will post 0.97 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 30th were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Friday, October 27th. CoBiz Financial’s payout ratio is currently 24.18%.
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.
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