CoBiz Financial Inc. Forecasted to Post FY2018 Earnings of $1.00 Per Share (COBZ)
CoBiz Financial Inc. (NASDAQ:COBZ) – Research analysts at FIG Partners issued their FY2018 EPS estimates for shares of CoBiz Financial in a research note issued on Thursday. FIG Partners analyst J. Rodis expects that the firm will post earnings of $1.00 per share for the year.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The firm earned $38.69 million during the quarter, compared to the consensus estimate of $39.01 million. CoBiz Financial had a return on equity of 10.79% and a net margin of 19.24%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research raised 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. Macquarie downgraded CoBiz Financial from an “outperform” rating to a “neutral” rating in a research note on Monday, October 24th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.67.
CoBiz Financial (NASDAQ:COBZ) traded up 2.08% on Friday, reaching $15.22. The company’s stock had a trading volume of 107,059 shares. CoBiz Financial has a 52-week low of $10.31 and a 52-week high of $15.50. The firm’s 50-day moving average price is $13.42 and its 200 day moving average price is $12.72. The company has a market cap of $623.96 million, a P/E ratio of 20.88 and a beta of 1.14.
A number of hedge funds have recently modified their holdings of the company. BlackRock Investment Management LLC raised its stake in shares of CoBiz Financial by 10.3% in the second quarter. BlackRock Investment Management LLC now owns 155,159 shares of the company’s stock worth $1,815,000 after buying an additional 14,508 shares in the last quarter. BlackRock Advisors LLC raised its stake in shares of CoBiz Financial by 5.5% in the second quarter. BlackRock Advisors LLC now owns 18,463 shares of the company’s stock worth $216,000 after buying an additional 957 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of CoBiz Financial during the second quarter worth approximately $278,000. 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, Dimensional Fund Advisors LP raised its stake in shares of CoBiz Financial by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,791,915 shares of the company’s stock worth $20,964,000 after buying an additional 76,465 shares in the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.
In other CoBiz Financial news, insider Robert Ostertag sold 5,522 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $13.21, for a total transaction of $72,945.62. Following the completion of the sale, the insider now directly owns 60,041 shares of the company’s stock, valued at approximately $793,141.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Page sold 5,441 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $15.30, for a total value of $83,247.30. Following the sale, the chief executive officer now directly owns 72,154 shares of the company’s stock, valued at $1,103,956.20. The disclosure for this sale can be found here. Corporate insiders own 11.38% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, November 7th. Investors of record on Monday, October 31st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Thursday, October 27th. CoBiz Financial’s dividend payout ratio (DPR) is currently 26.67%.
CoBiz Financial Company Profile
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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