Dimensional Fund Advisors LP raised its stake in shares of CoBiz Financial Inc. (NASDAQ:COBZ) by 1.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,850,525 shares of the bank’s stock after buying an additional 35,360 shares during the period. Dimensional Fund Advisors LP owned about 4.48% of CoBiz Financial worth $31,089,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake 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 valued at $47,363,000 after buying an additional 524,536 shares during the last quarter. Vanguard Group Inc. boosted 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 valued at $28,030,000 after buying an additional 56,641 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 valued at $24,767,000 after buying an additional 67,565 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of CoBiz Financial by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 899,766 shares of the bank’s stock worth $15,197,000 after buying an additional 62,869 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of CoBiz Financial by 4.1% in the fourth quarter. State Street Corp now owns 636,216 shares of the bank’s stock worth $10,744,000 after buying an additional 25,178 shares during the last quarter. 81.83% of the stock is currently owned by institutional investors.
CoBiz Financial Inc. (COBZ) opened at 16.84 on Friday. CoBiz Financial Inc. has a 12-month low of $12.40 and a 12-month high of $18.85. The company has a market cap of $696.52 million, a PE ratio of 18.92 and a beta of 1.20. The company has a 50-day moving average price of $17.38 and a 200 day moving average price of $16.86.
CoBiz Financial (NASDAQ:COBZ) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The firm had revenue of $40.32 million for the quarter, compared to the consensus estimate of $39.88 million. CoBiz Financial had a return on equity of 12.09% and a net margin of 21.97%. On average, analysts forecast that CoBiz Financial Inc. will post $0.92 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were issued a $0.055 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.22 annualized dividend and a dividend yield of 1.31%. This is an increase from CoBiz Financial’s previous quarterly dividend of $0.05. CoBiz Financial’s payout ratio is currently 24.72%.
COBZ has been the subject of a number of research analyst reports. BidaskClub lowered CoBiz Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. ValuEngine upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, July 26th. Piper Jaffray Companies restated a “hold” rating and issued a $19.50 target price on shares of CoBiz Financial in a research note on Wednesday, July 26th. Finally, DA Davidson reiterated a “neutral” rating on shares of CoBiz Financial in a research report on Friday, July 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.13.
In other news, insider Christopher S. Huss sold 5,000 shares of CoBiz Financial stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $17.35, for a total value of $86,750.00. Following the transaction, the insider now owns 36,002 shares in the company, valued at $624,634.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Steven Bangert sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $16.41, for a total value of $164,100.00. Following the completion of the sale, the chief executive officer now directly owns 1,024,242 shares in the company, valued at $16,807,811.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,543 shares of company stock worth $738,866. Company insiders own 9.90% of the company’s stock.
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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