CoBiz Financial Inc. (NASDAQ:COBZ) CEO Scott Page sold 5,307 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $20.84, for a total value of $110,597.88. Following the completion of the sale, the chief executive officer now owns 60,239 shares in the company, valued at approximately $1,255,380.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
CoBiz Financial Inc. (NASDAQ COBZ) traded up $0.27 on Friday, hitting $20.11. The stock had a trading volume of 172,000 shares, compared to its average volume of 106,086. The firm has a market cap of $837.91, a price-to-earnings ratio of 21.80, a P/E/G ratio of 2.05 and a beta of 1.27. CoBiz Financial Inc. has a 12 month low of $14.42 and a 12 month 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 released its earnings results on Thursday, October 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. The company 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%. equities analysts anticipate that CoBiz Financial Inc. will post 0.97 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Monday, October 30th were paid 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 dividend payout ratio (DPR) is presently 24.18%.
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A number of large investors have recently added to or reduced their stakes in COBZ. Janus Henderson Group PLC acquired a new stake in shares of CoBiz Financial during the second quarter valued at about $19,512,000. Victory Capital Management Inc. acquired a new stake in shares of CoBiz Financial during the third quarter valued at about $9,550,000. Hartford Investment Management Co. acquired a new stake in shares of CoBiz Financial during the second quarter valued at about $3,035,000. Macquarie Group Ltd. boosted its stake in shares of CoBiz Financial by 13.9% during the third 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 in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of CoBiz Financial by 8.1% during the second 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 in the last quarter. 83.14% of the stock is currently owned by institutional investors and hedge funds.
COBZ has been the topic of several recent research reports. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, October 24th. ValuEngine cut CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Piper Jaffray Companies reiterated a “hold” rating and set a $19.50 price objective on shares of CoBiz Financial in a research report on Wednesday, July 26th. BidaskClub raised CoBiz Financial from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, DA Davidson reissued a “neutral” rating on shares of CoBiz Financial in a report on Friday, July 21st. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.13.
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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