CoBiz Financial Inc. (NASDAQ:COBZ) CFO Lyne B. Andrich sold 5,667 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $15.45, for a total transaction of $87,555.15. Following the completion of the sale, the chief financial officer now owns 84,521 shares in the company, valued at $1,305,849.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
CoBiz Financial Inc. (NASDAQ:COBZ) opened at 15.22 on Monday. The stock’s 50 day moving average is $13.67 and its 200-day moving average is $12.82. CoBiz Financial Inc. has a 1-year low of $10.31 and a 1-year high of $15.68. The firm has a market cap of $623.96 million, a P/E ratio of 20.88 and a beta of 1.14.
CoBiz Financial (NASDAQ:COBZ) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $38.69 million for the quarter, compared to analyst estimates of $39.01 million. CoBiz Financial had a return on equity of 10.79% and a net margin of 19.24%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. Analysts forecast that CoBiz Financial Inc. will post $0.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, October 27th. CoBiz Financial’s dividend payout ratio (DPR) is 26.67%.
A number of research analysts have issued reports on COBZ shares. Zacks Investment Research upgraded shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a report on Monday, October 24th. Macquarie lowered shares of CoBiz Financial from an “outperform” rating to a “neutral” rating in a report on Monday, October 24th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $13.67.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in CoBiz Financial by 6.6% in the third quarter. BlackRock Inc. now owns 8,542 shares of the company’s stock worth $114,000 after buying an additional 526 shares during the last quarter. Aperio Group LLC purchased a new position in CoBiz Financial during the third quarter worth about $143,000. Nomura Holdings Inc. purchased a new position in CoBiz Financial during the second quarter worth about $150,000. BlackRock Group LTD raised its position in CoBiz Financial by 69.6% in the second quarter. BlackRock Group LTD now owns 15,373 shares of the company’s stock worth $180,000 after buying an additional 6,310 shares during the last quarter. Finally, Morgan Stanley raised its position in CoBiz Financial by 140.3% in the third quarter. Morgan Stanley now owns 15,457 shares of the company’s stock worth $206,000 after buying an additional 9,025 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
CoBiz Financial Company Profile