Parkwood LLC maintained its position in CoBiz Financial Inc (NASDAQ:COBZ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,832 shares of the bank’s stock at the end of the first quarter. Parkwood LLC’s holdings in CoBiz Financial were worth $182,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of CoBiz Financial by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,815,165 shares of the bank’s stock valued at $30,658,000 after buying an additional 14,750 shares in the last quarter. Perkins Investment Management LLC boosted its stake in shares of CoBiz Financial by 22.9% in the third quarter. Perkins Investment Management LLC now owns 1,061,297 shares of the bank’s stock valued at $14,126,000 after buying an additional 197,580 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of CoBiz Financial by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 899,766 shares of the bank’s stock valued at $15,197,000 after buying an additional 62,869 shares in the last quarter. State Street Corp boosted its stake in shares of CoBiz Financial by 4.1% in the fourth quarter. State Street Corp now owns 636,216 shares of the bank’s stock valued at $10,744,000 after buying an additional 25,178 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of CoBiz Financial by 8.3% in the fourth quarter. Renaissance Technologies LLC now owns 516,200 shares of the bank’s stock valued at $8,719,000 after buying an additional 39,600 shares in the last quarter. 81.11% of the stock is currently owned by institutional investors.
Shares of CoBiz Financial Inc (NASDAQ:COBZ) traded down 0.19% during mid-day trading on Friday, reaching $15.82. 131,762 shares of the company traded hands. The company has a market capitalization of $653.65 million, a P/E ratio of 18.40 and a beta of 1.24. CoBiz Financial Inc has a 52-week low of $10.86 and a 52-week high of $17.99. The firm’s 50 day moving average price is $16.55 and its 200-day moving average price is $16.44.
CoBiz Financial (NASDAQ:COBZ) last released its quarterly earnings results on Thursday, April 27th. The bank reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $38.41 million for the quarter, compared to analyst estimates of $40 million. CoBiz Financial had a return on equity of 12.18% and a net margin of 21.55%. Equities analysts predict that CoBiz Financial Inc will post $0.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 8th. Investors of record on Monday, May 1st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.26%. The ex-dividend date was Thursday, April 27th. CoBiz Financial’s dividend payout ratio (DPR) is presently 23.53%.
COBZ has been the topic of several research reports. Zacks Investment Research cut shares of CoBiz Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Hovde Group raised shares of CoBiz Financial from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Friday, March 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $18.00 target price on shares of CoBiz Financial in a report on Tuesday, May 2nd. Finally, Piper Jaffray Companies started coverage on shares of CoBiz Financial in a report on Thursday, April 13th. They issued a “neutral” rating and a $18.50 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. CoBiz Financial presently has an average rating of “Hold” and a consensus price target of $17.63.
In related news, insider Robert Ostertag sold 3,976 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $16.02, for a total transaction of $63,695.52. Following the transaction, the insider now directly owns 68,930 shares of the company’s stock, valued at approximately $1,104,258.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Evan Makovsky sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $16.60, for a total value of $58,100.00. Following the transaction, the director now directly owns 38,687 shares in the company, valued at $642,204.20. The disclosure for this sale can be found here. Insiders have sold a total of 28,716 shares of company stock worth $482,319 over the last three months. 11.38% of the stock is currently owned by corporate insiders.
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.
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