CoBiz Financial Inc (COBZ) Expected to Announce Quarterly Sales of $43.66 Million

Equities analysts forecast that CoBiz Financial Inc (NASDAQ:COBZ) will announce $43.66 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for CoBiz Financial’s earnings, with the lowest sales estimate coming in at $42.91 million and the highest estimate coming in at $44.40 million. CoBiz Financial reported sales of $38.41 million during the same quarter last year, which indicates a positive year over year growth rate of 13.7%. The business is expected to announce its next earnings report on Thursday, April 26th.

On average, analysts expect that CoBiz Financial will report full year sales of $43.66 million for the current financial year, with estimates ranging from $177.18 million to $185.00 million. For the next financial year, analysts anticipate that the business will report sales of $197.09 million per share, with estimates ranging from $192.88 million to $201.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CoBiz Financial.

Several equities analysts have recently issued reports on the stock. Piper Jaffray Companies reaffirmed a “hold” rating on shares of CoBiz Financial in a research note on Tuesday, January 30th. Sandler O’Neill set a $24.00 price target on shares of CoBiz Financial and gave the company a “buy” rating in a research note on Monday, January 29th. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research note on Friday, December 29th. BidaskClub downgraded shares of CoBiz Financial from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, ValuEngine raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.70.

In related news, CEO Steven Bangert sold 2,000 shares of CoBiz Financial stock in a transaction on 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 owns 1,006,359 shares of the company’s stock, valued at $20,610,232.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in COBZ. Simplex Trading LLC bought a new position in CoBiz Financial during the fourth quarter worth $116,000. GSA Capital Partners LLP bought a new position in CoBiz Financial during the third quarter worth $206,000. Keybank National Association OH bought a new position in CoBiz Financial during the third quarter worth $224,000. Teacher Retirement System of Texas bought a new position in CoBiz Financial during the fourth quarter worth $258,000. Finally, Parametric Portfolio Associates LLC raised its stake in CoBiz Financial by 16.3% during the second quarter. Parametric Portfolio Associates LLC now owns 14,992 shares of the bank’s stock worth $261,000 after buying an additional 2,105 shares during the last quarter. 84.44% of the stock is owned by institutional investors and hedge funds.

CoBiz Financial (NASDAQ:COBZ) opened at $19.30 on Thursday. The stock has a market cap of $805.50, a price-to-earnings ratio of 24.43, a PEG ratio of 1.55 and a beta of 1.17. CoBiz Financial has a 52 week low of $15.39 and a 52 week high of $22.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Monday, January 29th were paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, January 26th. CoBiz Financial’s payout ratio is currently 27.85%.

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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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