CoBiz Financial Inc. (COBZ) Director Mary Beth Vitale Sells 1,500 Shares
CoBiz Financial Inc. (NASDAQ:COBZ) Director Mary Beth Vitale sold 1,500 shares of CoBiz Financial stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $15.31, for a total value of $22,965.00. Following the sale, the director now owns 1,916 shares of the company’s stock, valued at approximately $29,333.96. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of CoBiz Financial Inc. (NASDAQ:COBZ) opened at 15.22 on Wednesday. The firm has a 50-day moving average price of $13.73 and a 200 day moving average price of $12.85. The stock has a market cap of $623.96 million, a PE ratio of 20.88 and a beta of 1.14. CoBiz Financial Inc. has a 12-month low of $10.31 and a 12-month high of $15.68.
CoBiz Financial (NASDAQ:COBZ) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. CoBiz Financial had a return on equity of 10.79% and a net margin of 19.24%. The company earned $38.69 million during the quarter, compared to analysts’ expectations of $39.01 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts predict that CoBiz Financial Inc. will post $0.85 EPS for the current fiscal year.
The firm 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 1.31%. CoBiz Financial’s payout ratio is 26.67%.
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A number of analysts recently commented on the company. 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 report on Monday, October 24th. Macquarie cut CoBiz Financial from an “outperform” rating to a “neutral” rating in a research report on Monday, October 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $13.67.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Group LTD boosted its position in CoBiz Financial by 69.6% in the second quarter. BlackRock Group LTD now owns 15,373 shares of the company’s stock valued at $180,000 after buying an additional 6,310 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of CoBiz Financial by 5.1% in the second quarter. BlackRock Fund Advisors now owns 964,281 shares of the company’s stock valued at $11,282,000 after buying an additional 46,611 shares during the period. 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 valued at $1,815,000 after buying an additional 14,508 shares during the period. 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 valued at $216,000 after buying an additional 957 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of CoBiz Financial during the second quarter valued at $278,000. 79.77% 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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