Insider Selling: CoBiz Financial Inc. (COBZ) CEO Sells $40,960.00 in Stock
CoBiz Financial Inc. (NASDAQ:COBZ) CEO Steven Bangert sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $20.48, for a total value of $40,960.00. Following the transaction, the chief executive officer now owns 1,006,359 shares in the company, valued at $20,610,232.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Steven Bangert also recently made the following trade(s):
- On Monday, November 6th, Steven Bangert sold 2,883 shares of CoBiz Financial stock. The stock was sold at an average price of $20.45, for a total value of $58,957.35.
- On Wednesday, October 25th, Steven Bangert sold 5,000 shares of CoBiz Financial stock. The stock was sold at an average price of $20.80, for a total value of $104,000.00.
CoBiz Financial Inc. (NASDAQ:COBZ) traded down $0.13 during trading hours on Thursday, reaching $20.52. The company’s stock had a trading volume of 54,000 shares, compared to its average volume of 106,968. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. CoBiz Financial Inc. has a one year low of $15.10 and a one year high of $21.35. The firm has a market capitalization of $861.17, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.14 and a beta of 1.26.
The company also recently declared a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 30th were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, October 27th. CoBiz Financial’s dividend payout ratio (DPR) is 24.44%.
A number of large investors have recently added to or reduced their stakes in COBZ. Legal & General Group Plc lifted its stake in CoBiz Financial by 4.2% during the second quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock worth $160,000 after purchasing an additional 371 shares in the last quarter. Aperio Group LLC acquired a new position in CoBiz Financial during the second quarter worth $180,000. GSA Capital Partners LLP acquired a new position in CoBiz Financial during the third quarter worth $206,000. Parametric Portfolio Associates LLC lifted its stake in CoBiz Financial by 4.1% during the first quarter. Parametric Portfolio Associates LLC now owns 12,887 shares of the bank’s stock worth $217,000 after purchasing an additional 504 shares in the last quarter. Finally, Keybank National Association OH acquired a new position in CoBiz Financial during the third quarter worth $224,000. Institutional investors own 83.87% of the company’s stock.
A number of research firms recently commented on COBZ. Piper Jaffray Companies reiterated a “hold” rating and issued a $19.50 price objective on shares of CoBiz Financial in a report on Wednesday, July 26th. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, July 26th. ValuEngine upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $20.13.
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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