MetLife Investment Advisors LLC Acquires New Position in CoBiz Financial Inc. (COBZ)

MetLife Investment Advisors LLC acquired a new stake in shares of CoBiz Financial Inc. (NASDAQ:COBZ) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 17,832 shares of the bank’s stock, valued at approximately $356,000.

A number of other hedge funds have also recently bought and sold shares of COBZ. Wells Fargo & Company MN increased its holdings in shares of CoBiz Financial by 34.4% in the 3rd quarter. Wells Fargo & Company MN now owns 57,715 shares of the bank’s stock valued at $1,134,000 after purchasing an additional 14,780 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of CoBiz Financial by 5.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 190,111 shares of the bank’s stock valued at $3,734,000 after purchasing an additional 10,010 shares during the period. GSA Capital Partners LLP acquired a new position in shares of CoBiz Financial in the 3rd quarter valued at about $206,000. Sit Investment Associates Inc. increased its holdings in shares of CoBiz Financial by 24.0% in the 4th quarter. Sit Investment Associates Inc. now owns 25,275 shares of the bank’s stock valued at $505,000 after purchasing an additional 4,900 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. increased its holdings in shares of CoBiz Financial by 27.2% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 91,953 shares of the bank’s stock valued at $1,838,000 after purchasing an additional 19,671 shares during the period. 82.23% of the stock is owned by institutional investors.

In related news, insider Christopher S. Huss sold 2,500 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $19.73, for a total value of $49,325.00. Following the transaction, the insider now owns 32,868 shares in the company, valued at $648,485.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Pass sold 1,250 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $20.21, for a total value of $25,262.50. Following the completion of the transaction, the executive vice president now owns 13,568 shares in the company, valued at approximately $274,209.28. The disclosure for this sale can be found here. Insiders sold 17,691 shares of company stock worth $352,013 in the last 90 days. 9.47% of the stock is currently owned by corporate insiders.



A number of equities analysts have recently weighed in on COBZ shares. ValuEngine upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Sandler O’Neill set a $24.00 target price on CoBiz Financial and gave the company a “buy” rating in a report on Monday, January 29th. Piper Jaffray reiterated a “hold” rating on shares of CoBiz Financial in a report on Tuesday, January 30th. BidaskClub upgraded CoBiz Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Zacks Investment Research downgraded CoBiz Financial from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $22.38.

Shares of COBZ opened at $20.47 on Thursday. The stock has a market capitalization of $854.46, a PE ratio of 21.55, a price-to-earnings-growth ratio of 1.64 and a beta of 1.18. 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 debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95.

CoBiz Financial (NASDAQ:COBZ) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). CoBiz Financial had a return on equity of 12.44% and a net margin of 18.58%. The firm had revenue of $43.09 million during the quarter, compared to analyst estimates of $43.10 million. sell-side analysts expect that CoBiz Financial Inc. will post 1.23 EPS for the current fiscal year.

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CoBiz Financial Profile

CoBiz Financial Inc, a diversified financial services company, provides various financial products and services in the United States. It operates through Commercial Banking and Fee-Based Lines segments. The Commercial Banking segment offers commercial, real estate, and private banking services, as well as treasury management, interest-rate hedging, and depository products.

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

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