Steven Bangert Sells 3,776 Shares of CoBiz Financial Inc. (COBZ) Stock
CoBiz Financial Inc. (NASDAQ:COBZ) CEO Steven Bangert sold 3,776 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $15.27, for a total value of $57,659.52. Following the sale, the chief executive officer now owns 1,142,491 shares of the company’s stock, valued at approximately $17,445,837.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Steven Bangert also recently made the following trade(s):
- On Tuesday, August 30th, Steven Bangert sold 9,000 shares of CoBiz Financial stock. The stock was sold at an average price of $12.97, for a total value of $116,730.00.
CoBiz Financial Inc. (NASDAQ:COBZ) opened at 15.22 on Wednesday. The stock has a market cap of $623.96 million, a PE ratio of 20.88 and a beta of 1.14. The firm has a 50-day moving average price of $13.73 and a 200 day moving average price of $12.85. CoBiz Financial Inc. has a 52-week low of $10.31 and a 52-week high of $15.68.
CoBiz Financial (NASDAQ:COBZ) last issued its earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The company earned $38.69 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. Equities analysts anticipate that CoBiz Financial Inc. will post $0.85 earnings per share for the current year.
The company also recently announced 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 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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Several equities research analysts have recently commented on COBZ shares. Macquarie cut CoBiz Financial from an “outperform” rating to a “neutral” rating in a research note 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 target for the company in a research note on Monday, October 24th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. CoBiz Financial currently has an average rating of “Buy” and a consensus target price of $13.67.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position 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. Aperio Group LLC purchased a new position in shares of CoBiz Financial during the third quarter valued at approximately $143,000. Nomura Holdings Inc. purchased a new position in shares of CoBiz Financial during the second quarter valued at approximately $150,000. BlackRock Group LTD raised its position 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 valued at $180,000 after buying an additional 6,310 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of CoBiz Financial by 30.0% in the second quarter. Alliancebernstein L.P. now owns 16,921 shares of the company’s stock valued at $198,000 after buying an additional 3,900 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.
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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