Shares of CoBiz Financial Inc (NASDAQ:COBZ) have received a consensus rating of “Hold” from the six research firms that are covering the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $19.00.
COBZ has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Hovde Group raised shares of CoBiz Financial from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Friday, March 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $19.00 price target on shares of CoBiz Financial in a research note on Wednesday, April 5th. Finally, Piper Jaffray Companies initiated coverage on shares of CoBiz Financial in a research note on Thursday. They set a “neutral” rating on the stock.
CoBiz Financial (NASDAQ:COBZ) traded down 2.90% during trading on Thursday, reaching $16.10. 64,325 shares of the company’s stock traded hands. CoBiz Financial has a 1-year low of $10.79 and a 1-year high of $17.99. The stock has a 50-day moving average price of $16.79 and a 200 day moving average price of $15.80. The stock has a market capitalization of $661.52 million, a P/E ratio of 19.17 and a beta of 1.24.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, January 26th. The company reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. The company had revenue of $39.26 million for the quarter, compared to the consensus estimate of $39.43 million. CoBiz Financial had a net margin of 21.55% and a return on equity of 12.18%. CoBiz Financial’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. Equities research analysts expect that CoBiz Financial will post $0.89 earnings per share for the current year.
In other news, COO Richard J. Dalton sold 5,324 shares of the firm’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $16.95, for a total value of $90,241.80. Following the transaction, the chief operating officer now owns 98,076 shares of the company’s stock, valued at approximately $1,662,388.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary M. White sold 3,667 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $17.06, for a total transaction of $62,559.02. Following the completion of the transaction, the director now directly owns 6,235 shares in the company, valued at approximately $106,369.10. The disclosure for this sale can be found here. In the last three months, insiders sold 35,407 shares of company stock worth $610,156. Insiders own 11.38% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Aperio Group LLC acquired a new position in shares of CoBiz Financial during the third quarter worth approximately $143,000. United Capital Financial Advisers LLC increased its position in shares of CoBiz Financial by 0.4% in the fourth quarter. United Capital Financial Advisers LLC now owns 14,826 shares of the company’s stock worth $250,000 after buying an additional 66 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of CoBiz Financial by 31.4% in the third quarter. Wells Fargo & Company MN now owns 27,775 shares of the company’s stock worth $370,000 after buying an additional 6,631 shares in the last quarter. Martingale Asset Management L P acquired a new position in shares of CoBiz Financial during the fourth quarter worth approximately $435,000. Finally, Citadel Advisors LLC acquired a new position in shares of CoBiz Financial during the third quarter worth approximately $698,000. 81.11% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “CoBiz Financial Inc (COBZ) Receives Average Rating of “Hold” from Analysts” was originally reported by sleekmoney and is owned by of sleekmoney. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at http://sleekmoney.com/cobiz-financial-inc-cobz-receives-average-rating-of-hold-from-analysts/1739557.html.
About CoBiz Financial
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.
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/cobiz-financial-inc-cobz-receives-average-rating-of-hold-from-analysts/1739557.html
Receive News & Ratings for CoBiz Financial Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoBiz Financial Inc and related companies with MarketBeat.com's FREE daily email newsletter.