Insider Selling: CoBiz Financial Inc. (COBZ) CFO Sells $30,020.00 in Stock
CoBiz Financial Inc. (NASDAQ:COBZ) CFO Lyne B. Andrich sold 2,000 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $15.01, for a total value of $30,020.00. Following the transaction, the chief financial officer now owns 79,024 shares in the company, valued at $1,186,150.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
CoBiz Financial Inc. (NASDAQ:COBZ) traded up 0.07% during midday trading on Thursday, reaching $15.01. The company had a trading volume of 7,009 shares. CoBiz Financial Inc. has a 12-month low of $10.31 and a 12-month high of $15.50. The stock has a market capitalization of $622.81 billion, a PE ratio of 21.44 and a beta of 1.14. The company has a 50-day moving average of $13.32 and a 200-day moving average of $12.68.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The business 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. On average, analysts predict that CoBiz Financial Inc. will post $0.85 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were given a $0.05 dividend. The ex-dividend date was Thursday, October 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.33%. CoBiz Financial’s dividend payout ratio is currently 26.67%.
A number of equities analysts have recently weighed in on the company. Macquarie lowered CoBiz Financial from an “outperform” rating to a “neutral” rating in a research report on Monday, October 24th. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research report on Monday, October 24th. Two investment 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 stock. The company currently has an average rating of “Buy” and an average target price of $13.67.
Several large investors have recently modified their holdings of the company. Nomura Holdings Inc. acquired a new stake in shares of CoBiz Financial during the second quarter worth $150,000. Goldman Sachs Group Inc. raised its stake in shares of CoBiz Financial by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,185,307 shares of the company’s stock worth $14,010,000 after buying an additional 67,518 shares in the last quarter. First Trust Advisors LP raised its stake in shares of CoBiz Financial by 0.6% in the second quarter. First Trust Advisors LP now owns 59,859 shares of the company’s stock worth $700,000 after buying an additional 365 shares in the last quarter. Barclays PLC raised its stake in shares of CoBiz Financial by 12.2% in the first quarter. Barclays PLC now owns 27,381 shares of the company’s stock worth $301,000 after buying an additional 2,976 shares in the last quarter. Finally, 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. 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.
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