CoBiz Financial (COBZ) Lowered to Hold at BidaskClub

BidaskClub cut shares of CoBiz Financial (NASDAQ:COBZ) from a buy rating to a hold rating in a report published on Wednesday, December 20th.

A number of other research firms also recently commented on COBZ. Zacks Investment Research raised shares of CoBiz Financial from a hold rating to a strong-buy rating and set a $24.00 target price for the company in a research report on Tuesday, October 24th. ValuEngine downgraded shares of CoBiz Financial from a buy rating to a hold rating in a research report on Monday, October 2nd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. CoBiz Financial presently has an average rating of Buy and a consensus target price of $21.13.

Shares of CoBiz Financial (NASDAQ:COBZ) traded up $0.57 on Wednesday, hitting $21.30. 202,286 shares of the company traded hands, compared to its average volume of 114,486. The company has a market capitalization of $861.56, a P/E ratio of 23.41, a P/E/G ratio of 1.71 and a beta of 1.26. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. CoBiz Financial has a 12 month low of $15.39 and a 12 month high of $22.01.

CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. CoBiz Financial had a net margin of 21.95% and a return on equity of 12.06%. The company had revenue of $42.76 million during the quarter, compared to the consensus estimate of $41.13 million. equities analysts predict that CoBiz Financial will post 0.97 earnings per share for the current fiscal year.

In other news, CEO Scott Page sold 5,307 shares of CoBiz Financial stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $20.84, for a total transaction of $110,597.88. Following the transaction, the chief executive officer now owns 60,239 shares in the company, valued at approximately $1,255,380.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Beth Vitale sold 2,000 shares of CoBiz Financial stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $20.59, for a total transaction of $41,180.00. Following the transaction, the director now owns 2,715 shares in the company, valued at approximately $55,901.85. The disclosure for this sale can be found here. Insiders have sold a total of 52,205 shares of company stock worth $1,086,023 in the last quarter. Corporate insiders own 9.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COBZ. Teachers Advisors LLC lifted its stake in shares of CoBiz Financial by 5.3% during the 1st quarter. Teachers Advisors LLC now owns 90,573 shares of the bank’s stock valued at $1,522,000 after buying an additional 4,563 shares in the last quarter. Aperio Group LLC purchased a new position in shares of CoBiz Financial during the 2nd quarter valued at $180,000. Schwab Charles Investment Management Inc. lifted its stake in shares of CoBiz Financial by 14.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 180,101 shares of the bank’s stock valued at $3,134,000 after buying an additional 22,121 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of CoBiz Financial by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 47,779 shares of the bank’s stock valued at $831,000 after buying an additional 265 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in CoBiz Financial by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock valued at $160,000 after acquiring an additional 371 shares during the last quarter. Institutional investors own 82.89% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “CoBiz Financial (COBZ) Lowered to Hold at BidaskClub” was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://stocknewstimes.com/2018/01/11/bidaskclub-lowers-cobiz-financial-cobz-to-hold.html.

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.

Receive News & Ratings for CoBiz Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoBiz Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply