BSW Wealth Partners Purchases 43 Shares of CoBiz Financial Inc. (COBZ)
BSW Wealth Partners boosted its stake in shares of CoBiz Financial Inc. (NASDAQ:COBZ) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,399 shares of the bank’s stock after buying an additional 43 shares during the period. BSW Wealth Partners’ holdings in CoBiz Financial were worth $251,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in COBZ. Teachers Advisors LLC boosted its stake in shares of CoBiz Financial by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 86,010 shares of the bank’s stock valued at $1,453,000 after buying an additional 11,022 shares in the last quarter. Sit Investment Associates Inc. acquired a new stake in CoBiz Financial during the first quarter valued at $298,000. Swiss National Bank boosted its stake in CoBiz Financial by 4.8% in the first quarter. Swiss National Bank now owns 61,500 shares of the bank’s stock valued at $1,033,000 after buying an additional 2,800 shares during the period. Gabelli Funds LLC acquired a new stake in CoBiz Financial during the first quarter valued at $504,000. Finally, Parametric Portfolio Associates LLC boosted its stake in CoBiz Financial by 4.1% in the first quarter. Parametric Portfolio Associates LLC now owns 12,887 shares of the bank’s stock valued at $217,000 after buying an additional 504 shares during the period. Hedge funds and other institutional investors own 82.93% of the company’s stock.
Shares of CoBiz Financial Inc. (COBZ) opened at 17.04 on Wednesday. The company has a market capitalization of $704.79 million, a PE ratio of 19.15 and a beta of 1.20. The stock has a 50 day moving average price of $17.31 and a 200 day moving average price of $16.85. CoBiz Financial Inc. has a one year low of $12.40 and a one year high of $18.85.
CoBiz Financial (NASDAQ:COBZ) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. CoBiz Financial had a net margin of 21.97% and a return on equity of 12.09%. The company had revenue of $40.32 million during the quarter, compared to analyst estimates of $39.88 million. On average, equities research analysts predict that CoBiz Financial Inc. will post $0.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.29%. This is a positive change from CoBiz Financial’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, July 27th. CoBiz Financial’s dividend payout ratio (DPR) is presently 24.72%.
A number of research analysts have recently commented on the company. BidaskClub upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 price objective on shares of CoBiz Financial in a research report on Tuesday, May 2nd. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $19.50 target price on shares of CoBiz Financial in a report on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.13.
In other CoBiz Financial news, CEO Steven Bangert sold 10,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $16.41, for a total transaction of $164,100.00. Following the transaction, the chief executive officer now directly owns 1,024,242 shares in the company, valued at approximately $16,807,811.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher S. Huss sold 5,000 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $86,750.00. Following the transaction, the insider now owns 36,002 shares in the company, valued at $624,634.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,543 shares of company stock valued at $738,866. Company insiders own 9.90% of the company’s stock.
About CoBiz Financial
CoBiz Financial Inc is a financial holding company. The Company provides a range of banking and related services through its subsidiaries, CoBiz Bank (Bank), CoBiz Insurance, Inc and CoBiz IM, Inc (CoBiz IM). The Company’s segments include Commercial Banking, Fee-Based Lines, and Corporate Support and Other.
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