CoBiz Financial Inc. (NASDAQ:COBZ) Director Mary M. White sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $15.20, for a total transaction of $15,200.00. Following the sale, the director now directly owns 6,976 shares of the company’s stock, valued at $106,035.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of CoBiz Financial Inc. (NASDAQ:COBZ) opened at 15.38 on Friday. The company has a market capitalization of $630.52 million, a P/E ratio of 21.10 and a beta of 1.14. CoBiz Financial Inc. has a one year low of $10.31 and a one year high of $15.68. The firm has a 50-day moving average of $13.60 and a 200-day moving average of $12.79.
CoBiz Financial (NASDAQ:COBZ) last announced its earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $38.69 million for the quarter, compared to the consensus estimate of $39.01 million. CoBiz Financial had a net margin of 19.24% and a return on equity of 10.79%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company posted $0.17 EPS. Equities research analysts expect that CoBiz Financial Inc. will post $0.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Monday, October 31st were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, October 27th. This represents a $0.20 annualized dividend and a yield of 1.30%. CoBiz Financial’s dividend payout ratio (DPR) is currently 26.67%.
A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in CoBiz Financial by 9.9% in the first quarter. Wellington Management Group LLP now owns 3,274,667 shares of the company’s stock worth $38,707,000 after buying an additional 295,319 shares during the period. Barclays PLC increased its stake in CoBiz Financial by 12.2% in the first quarter. Barclays PLC now owns 27,381 shares of the company’s stock worth $301,000 after buying an additional 2,976 shares during the period. Endeavour Capital Advisors Inc. acquired a new stake in CoBiz Financial during the first quarter worth about $1,411,000. California State Teachers Retirement System increased its stake in CoBiz Financial by 1.4% in the second quarter. California State Teachers Retirement System now owns 78,001 shares of the company’s stock worth $913,000 after buying an additional 1,072 shares during the period. Finally, Swiss National Bank increased its stake in CoBiz Financial by 7.3% in the second quarter. Swiss National Bank now owns 58,700 shares of the company’s stock worth $687,000 after buying an additional 4,000 shares during the period. Hedge funds and other institutional investors own 79.10% of the company’s stock.
Several research firms recently issued reports on COBZ. Macquarie downgraded shares of CoBiz Financial from an “outperform” rating to a “neutral” rating in a report on Monday, October 24th. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a report on Monday, October 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $13.67.
About CoBiz Financial