Gabelli Funds LLC grew its position in shares of CoBiz Financial Inc (NASDAQ:COBZ) by 236.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 534,888 shares of the bank’s stock after purchasing an additional 375,696 shares during the period. Gabelli Funds LLC owned approximately 1.26% of CoBiz Financial worth $11,842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keybank National Association OH grew its position in shares of CoBiz Financial by 8.1% during the 2nd quarter. Keybank National Association OH now owns 31,449 shares of the bank’s stock valued at $676,000 after purchasing an additional 2,349 shares in the last quarter. Teton Advisors Inc. grew its position in shares of CoBiz Financial by 2.9% during the 2nd quarter. Teton Advisors Inc. now owns 143,839 shares of the bank’s stock valued at $3,090,000 after purchasing an additional 4,000 shares in the last quarter. California Public Employees Retirement System grew its position in shares of CoBiz Financial by 5.7% during the 2nd quarter. California Public Employees Retirement System now owns 91,411 shares of the bank’s stock valued at $1,964,000 after purchasing an additional 4,911 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of CoBiz Financial by 8.3% during the 1st quarter. Wells Fargo & Company MN now owns 76,728 shares of the bank’s stock valued at $1,504,000 after purchasing an additional 5,859 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of CoBiz Financial by 10.1% during the 2nd quarter. Swiss National Bank now owns 72,200 shares of the bank’s stock valued at $1,551,000 after purchasing an additional 6,600 shares in the last quarter. Hedge funds and other institutional investors own 78.87% of the company’s stock.

Shares of NASDAQ:COBZ opened at $22.14 on Friday. CoBiz Financial Inc has a 52-week low of $18.02 and a 52-week high of $23.55.

A number of research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of CoBiz Financial from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. BidaskClub upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Piper Jaffray Companies reiterated a “hold” rating and issued a $23.00 target price on shares of CoBiz Financial in a research report on Friday, August 10th. Finally, Keefe, Bruyette & Woods lowered shares of CoBiz Financial from an “outperform” rating to a “market perform” rating and set a $24.50 target price for the company. in a research report on Friday, July 27th. Eight research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $20.94.

In related news, insider Jeremy Lindner sold 4,309 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $22.70, for a total value of $97,814.30. Following the completion of the transaction, the insider now directly owns 16,527 shares in the company, valued at $375,162.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.47% of the stock is currently owned by insiders.

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CoBiz Financial Company Profile

CoBiz Financial Inc, a diversified financial services company, provides various financial products and services in the United States. It operates through Commercial Banking and Fee-Based Lines segments. The Commercial Banking segment offers commercial, real estate, and private banking services, as well as treasury management, interest-rate hedging, and depository products.

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Institutional Ownership by Quarter for CoBiz Financial (NASDAQ:COBZ)

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