Insider Selling: CoBiz Financial Inc. (COBZ) CEO Sells $83,247.30 in Stock
CoBiz Financial Inc. (NASDAQ:COBZ) CEO Scott Page sold 5,441 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $15.30, for a total transaction of $83,247.30. Following the completion of the sale, the chief executive officer now owns 72,154 shares of the company’s stock, valued at approximately $1,103,956.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
CoBiz Financial Inc. (NASDAQ:COBZ) opened at 15.00 on Thursday. The company has a 50-day moving average of $13.32 and a 200-day moving average of $12.68. The firm has a market capitalization of $614.94 million, a price-to-earnings 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.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings data on Thursday, October 20th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. On average, equities analysts predict that CoBiz Financial Inc. will post $0.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Thursday, October 27th. CoBiz Financial’s dividend payout ratio (DPR) is 26.67%.
Several large investors have recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new stake in shares of CoBiz Financial during the second quarter worth about $6,061,000. Wellington Management Group LLP raised its stake in shares of 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 in the last quarter. Perkins Investment Management LLC raised 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 company’s stock worth $14,126,000 after buying an additional 197,580 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CoBiz Financial by 13.1% in the second quarter. Vanguard Group Inc. now owns 1,574,047 shares of the company’s stock worth $18,416,000 after buying an additional 182,395 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of CoBiz Financial by 27.5% in the second quarter. Macquarie Group Ltd. now owns 798,606 shares of the company’s stock worth $9,344,000 after buying an additional 172,005 shares in the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on COBZ shares. Macquarie downgraded shares of CoBiz Financial from an “outperform” rating to a “neutral” rating in a research report 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 target on the stock 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 given 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
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.
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