CoBiz Financial (COBZ) Earning Somewhat Favorable Press Coverage, Report Shows
Headlines about CoBiz Financial (NASDAQ:COBZ) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm rates the sentiment of media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. CoBiz Financial earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 46.7734006948426 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
A number of equities analysts recently issued reports on COBZ shares. BidaskClub upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, July 26th. Piper Jaffray Companies restated a “hold” rating and issued a $19.50 target price on shares of CoBiz Financial in a report on Wednesday, July 26th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of CoBiz Financial in a research report on Friday, July 21st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.88.
Shares of CoBiz Financial (NASDAQ COBZ) opened at 17.25 on Monday. CoBiz Financial has a 52-week low of $12.40 and a 52-week high of $18.85. The firm has a market cap of $713.48 million, a PE ratio of 19.38 and a beta of 1.20. The company’s 50-day moving average price is $17.12 and its 200-day moving average price is $16.80.
CoBiz Financial (NASDAQ:COBZ) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The business had revenue of $40.32 million during the quarter, compared to analysts’ expectations of $39.88 million. CoBiz Financial had a net margin of 21.97% and a return on equity of 12.09%. Equities analysts expect that CoBiz Financial will post $0.92 earnings per share for the current fiscal year.
In other news, COO Richard J. Dalton sold 10,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $17.80, for a total transaction of $178,000.00. Following the completion of the transaction, the chief operating officer now directly owns 84,082 shares in the company, valued at approximately $1,496,659.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Steven Bangert sold 8,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $17.62, for a total transaction of $140,960.00. Following the transaction, the chief executive officer now owns 1,016,242 shares of the company’s stock, valued at $17,906,184.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,543 shares of company stock valued at $488,016. Company insiders own 9.90% of the company’s stock.
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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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