Penn Capital Management Co. Inc. Has $5.84 Million Position in CoBiz Financial Inc (COBZ)

Penn Capital Management Co. Inc. cut its holdings in CoBiz Financial Inc (NASDAQ:COBZ) by 11.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 292,289 shares of the bank’s stock after selling 36,738 shares during the period. Penn Capital Management Co. Inc.’s holdings in CoBiz Financial were worth $5,843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in CoBiz Financial by 18.5% in the 4th quarter. BlackRock Inc. now owns 3,091,141 shares of the bank’s stock worth $61,792,000 after buying an additional 483,473 shares during the period. Wells Fargo & Company MN boosted its holdings in CoBiz Financial by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 70,869 shares of the bank’s stock valued at $1,417,000 after purchasing an additional 13,154 shares during the period. Keybank National Association OH boosted its holdings in CoBiz Financial by 104.4% in the 4th quarter. Keybank National Association OH now owns 23,300 shares of the bank’s stock valued at $466,000 after purchasing an additional 11,900 shares during the period. Nuance Investments LLC bought a new position in CoBiz Financial in the 4th quarter valued at $7,691,000. Finally, Teacher Retirement System of Texas bought a new position in CoBiz Financial in the 4th quarter valued at $258,000. 84.44% of the stock is owned by institutional investors.

CoBiz Financial Inc (NASDAQ:COBZ) opened at $19.77 on Friday. 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 Inc has a fifty-two week low of $15.39 and a fifty-two week high of $22.01. The company has a market cap of $834.63, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17.

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Monday, January 29th were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, January 26th. CoBiz Financial’s payout ratio is 27.85%.

COBZ has been the subject of several analyst reports. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a report on Tuesday, October 24th. BidaskClub downgraded shares of CoBiz Financial from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $23.00 price target on shares of CoBiz Financial in a report on Friday, December 22nd. ValuEngine raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Piper Jaffray Companies reissued a “hold” rating on shares of CoBiz Financial in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $21.70.

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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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Institutional Ownership by Quarter for CoBiz Financial (NASDAQ:COBZ)

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