Michael B. Burgamy Sells 20,000 Shares of CoBiz Financial Inc. (COBZ) Stock
CoBiz Financial Inc. (NASDAQ:COBZ) Director Michael B. Burgamy sold 20,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $14.80, for a total value of $296,000.00. Following the transaction, the director now owns 254,921 shares in the company, valued at approximately $3,772,830.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of CoBiz Financial Inc. (NASDAQ:COBZ) opened at 15.00 on Wednesday. The firm has a market cap of $614.94 million, a P/E ratio of 20.58 and a beta of 1.14. CoBiz Financial Inc. has a 1-year low of $10.31 and a 1-year high of $15.50. The firm’s 50-day moving average is $13.26 and its 200-day moving average is $12.66.
CoBiz Financial (NASDAQ:COBZ) last released its earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The firm had revenue of $38.69 million for the quarter, compared to analysts’ expectations of $39.01 million. CoBiz Financial had a return on equity of 10.79% and a net margin of 19.24%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. On average, analysts anticipate that CoBiz Financial Inc. will post $0.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Monday, October 31st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, October 27th. CoBiz Financial’s payout ratio is 26.67%.
COBZ has been the topic of several research analyst reports. Macquarie downgraded shares of CoBiz Financial from an “outperform” rating to a “neutral” rating in a research note on Monday, October 24th. Zacks Investment Research upgraded shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a research note on Monday, October 24th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $13.67.
A number of large investors have recently added to or reduced their stakes in COBZ. Nomura Holdings Inc. purchased a new stake in CoBiz Financial during the second quarter valued at approximately $150,000. Goldman Sachs Group Inc. boosted its stake in CoBiz Financial by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,185,307 shares of the company’s stock valued at $14,010,000 after buying an additional 67,518 shares during the last quarter. First Trust Advisors LP boosted its stake in CoBiz Financial by 0.6% in the second quarter. First Trust Advisors LP now owns 59,859 shares of the company’s stock valued at $700,000 after buying an additional 365 shares during the last quarter. Barclays PLC boosted its stake in CoBiz Financial by 12.2% in the first quarter. Barclays PLC now owns 27,381 shares of the company’s stock valued at $301,000 after buying an additional 2,976 shares during the last quarter. Finally, Wellington Management Group LLP boosted 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 valued at $38,707,000 after buying an additional 295,319 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.
About CoBiz Financial
CoBiz Financial Inc (CoBiz) is a financial holding company. The Company operates in three segments: Commercial Banking, Fee-Based Lines, and Corporate Support and Other. The Commercial Banking segment offers commercial, real estate and private banking, as well as treasury management, interest-rate hedging and depository products.
Receive News & Stock 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 stocks with our FREE daily email newsletter.