CoBiz Financial (NASDAQ:COBZ) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.
Several other equities analysts also recently commented on the company. Zacks Investment Research downgraded CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.00 target price on shares of CoBiz Financial in a research report on Friday, December 22nd. Finally, ValuEngine downgraded CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $21.13.
Shares of CoBiz Financial (COBZ) traded up $0.11 during mid-day trading on Thursday, hitting $21.41. The company had a trading volume of 90,600 shares, compared to its average volume of 111,822. 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 has a twelve month low of $15.39 and a twelve month high of $22.01. The company has a market cap of $904.22, a P/E ratio of 23.53, a P/E/G ratio of 1.80 and a beta of 1.26.
In other news, CEO Steven Bangert sold 2,883 shares of the stock in a transaction dated Monday, November 6th. The stock was 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 owns 1,008,359 shares of the company’s stock, valued at $20,620,941.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Lyne B. Andrich sold 2,335 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $20.99, for a total value of $49,011.65. Following the completion of the sale, the chief financial officer now directly owns 101,122 shares of the company’s stock, valued at approximately $2,122,550.78. The disclosure for this sale can be found here. Insiders sold 52,205 shares of company stock valued at $1,086,023 over the last quarter. Corporate insiders own 9.90% of the company’s stock.
Several hedge funds have recently modified their holdings of COBZ. Simplex Trading LLC acquired a new stake in shares of CoBiz Financial in the fourth quarter valued at about $116,000. Legal & General Group Plc increased its stake in shares of CoBiz Financial by 4.2% in the second quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock valued at $160,000 after buying an additional 371 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of CoBiz Financial in the third quarter valued at about $206,000. Keybank National Association OH acquired a new stake in shares of CoBiz Financial in the third quarter valued at about $224,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of CoBiz Financial by 16.3% in the second quarter. Parametric Portfolio Associates LLC now owns 14,992 shares of the bank’s stock valued at $261,000 after buying an additional 2,105 shares during the period. 82.89% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This report was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://stocknewstimes.com/2018/01/15/cobiz-financial-cobz-rating-increased-to-hold-at-bidaskclub.html.
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.
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.