CoBiz Financial Inc (COBZ) Stake Decreased by Gabelli Funds LLC
Gabelli Funds LLC trimmed its holdings in CoBiz Financial Inc (NASDAQ:COBZ) by 14.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,500 shares of the bank’s stock after selling 5,922 shares during the period. Gabelli Funds LLC’s holdings in CoBiz Financial were worth $690,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Simplex Trading LLC purchased a new stake in shares of CoBiz Financial in the fourth quarter worth approximately $116,000. GSA Capital Partners LLP purchased a new stake in shares of CoBiz Financial in the third quarter worth approximately $206,000. Keybank National Association OH purchased a new stake in shares of CoBiz Financial in the third quarter worth approximately $224,000. Parametric Portfolio Associates LLC raised its holdings in shares of CoBiz Financial by 16.3% in the second quarter. Parametric Portfolio Associates LLC now owns 14,992 shares of the bank’s stock worth $261,000 after buying an additional 2,105 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of CoBiz Financial in the fourth quarter worth approximately $277,000. Hedge funds and other institutional investors own 84.44% of the company’s stock.
Several brokerages have recently weighed in on COBZ. Piper Jaffray Companies reiterated a “hold” rating on shares of CoBiz Financial in a report on Tuesday, January 30th. Sandler O’Neill set a $24.00 price target on CoBiz Financial and gave the stock a “buy” rating in a report on Monday, January 29th. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a report on Friday, December 29th. BidaskClub downgraded CoBiz Financial from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, ValuEngine upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. CoBiz Financial presently has an average rating of “Buy” and a consensus price target of $21.70.
CoBiz Financial Inc (COBZ) opened at $19.30 on Thursday. The company has a market capitalization of $805.50, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.17. CoBiz Financial Inc has a fifty-two week low of $15.39 and a fifty-two week high of $22.01. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Monday, January 29th were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Friday, January 26th. This represents a $0.22 annualized dividend and a yield of 1.14%. CoBiz Financial’s payout ratio is currently 27.85%.
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CoBiz Financial Profile
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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