CoBiz Financial Inc. (COBZ) CFO Lyne B. Andrich Sells 5,667 Shares
CoBiz Financial Inc. (NASDAQ:COBZ) CFO Lyne B. Andrich sold 5,667 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $15.45, for a total value of $87,555.15. Following the transaction, the chief financial officer now owns 84,521 shares of the company’s stock, valued at $1,305,849.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
CoBiz Financial Inc. (NASDAQ:COBZ) remained flat at $15.43 during midday trading on Thursday. 171,228 shares of the company were exchanged. The stock has a market cap of $632.57 million, a price-to-earnings ratio of 21.17 and a beta of 1.14. CoBiz Financial Inc. has a 52-week low of $10.31 and a 52-week high of $15.68. The stock’s 50-day moving average is $13.60 and its 200 day moving average is $12.79.
CoBiz Financial (NASDAQ:COBZ) last posted its earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, beating the 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. On average, equities analysts forecast that CoBiz Financial Inc. will post $0.85 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.30%. CoBiz Financial’s payout ratio is 26.67%.
Several equities analysts have recently weighed in on the company. Macquarie cut CoBiz Financial from an “outperform” rating to a “neutral” rating in a report on Monday, October 24th. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a report on Monday, October 24th. Two equities research analysts have rated the stock with a hold rating, two have given 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.
Large investors have recently modified their holdings of the stock. American International Group Inc. boosted its stake in shares of CoBiz Financial by 0.7% in the second quarter. American International Group Inc. now owns 21,413 shares of the company’s stock valued at $251,000 after buying an additional 154 shares during the last quarter. First Trust Advisors LP boosted 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 valued at $700,000 after buying an additional 365 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of CoBiz Financial by 0.8% in the third quarter. Rhumbline Advisers now owns 47,882 shares of the company’s stock valued at $637,000 after buying an additional 400 shares during the last quarter. BlackRock Inc. boosted its stake in shares of CoBiz Financial by 6.6% in the third quarter. BlackRock Inc. now owns 8,542 shares of the company’s stock valued at $114,000 after buying an additional 526 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of CoBiz Financial by 2.4% in the second quarter. Nationwide Fund Advisors now owns 29,394 shares of the company’s stock valued at $344,000 after buying an additional 689 shares during the last quarter. 79.10% of the stock is owned by institutional investors.
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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