Mary K. Rhinehart Sells 1,000 Shares of CoBiz Financial Inc. (COBZ) Stock
CoBiz Financial Inc. (NASDAQ:COBZ) Director Mary K. Rhinehart sold 1,000 shares of CoBiz Financial stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $15.38, for a total value of $15,380.00. Following the completion of the transaction, the director now owns 6,276 shares of the company’s stock, valued at approximately $96,524.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
CoBiz Financial Inc. (NASDAQ:COBZ) opened at 15.38 on Friday. The stock’s 50 day moving average price is $13.60 and its 200 day moving average price is $12.79. The firm has a market capitalization of $630.52 million, a PE ratio of 21.10 and a beta of 1.14. CoBiz Financial Inc. has a one year low of $10.31 and a one year high of $15.68.
CoBiz Financial (NASDAQ:COBZ) last announced its earnings results on Thursday, October 20th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. CoBiz Financial had a net margin of 19.24% and a return on equity of 10.79%. The business earned $38.69 million during the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts expect that CoBiz Financial Inc. will post $0.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were paid a dividend of $0.05 per share. 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 dividend payout ratio (DPR) is 26.67%.
COBZ has been the subject of several research reports. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Monday, October 24th. Macquarie lowered CoBiz Financial from an “outperform” rating to a “neutral” rating in a research note on Monday, October 24th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $13.67.
Large investors have recently made changes to their positions in the company. BlackRock Inc. increased 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 period. Aperio Group LLC acquired a new stake in shares of CoBiz Financial during the third quarter valued at $143,000. Nomura Holdings Inc. purchased a new stake in shares of CoBiz Financial during the second quarter worth approximately $150,000. BlackRock Group LTD increased its stake in shares of CoBiz Financial by 69.6% in the second quarter. BlackRock Group LTD now owns 15,373 shares of the company’s stock worth $180,000 after buying an additional 6,310 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of CoBiz Financial by 140.3% in the third quarter. Morgan Stanley now owns 15,457 shares of the company’s stock worth $206,000 after buying an additional 9,025 shares during the last quarter. Institutional investors and hedge funds own 79.10% of the company’s stock.
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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.
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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