CoBiz Financial Inc. (COBZ) Given Consensus Recommendation of “Hold” by Analysts

CoBiz Financial Inc. (NASDAQ:COBZ) has earned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $23.50.

COBZ has been the subject of a number of recent research reports. Zacks Investment Research cut shares of CoBiz Financial from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. BidaskClub upgraded shares of CoBiz Financial from a “sell” rating to a “hold” rating in a report on Saturday, March 17th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.00 price objective on shares of CoBiz Financial in a report on Friday, December 22nd. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Sandler O’Neill set a $24.00 price objective on shares of CoBiz Financial and gave the stock a “buy” rating in a report on Monday, January 29th.

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In other CoBiz Financial news, EVP David Pass sold 1,250 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $20.21, for a total transaction of $25,262.50. Following the completion of the sale, the executive vice president now directly owns 13,568 shares in the company, valued at $274,209.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven Bangert sold 3,941 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $19.90, for a total transaction of $78,425.90. Following the sale, the chief executive officer now owns 1,022,724 shares of the company’s stock, valued at $20,352,207.60. The disclosure for this sale can be found here. Insiders sold 17,691 shares of company stock valued at $352,013 over the last quarter. 9.47% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in COBZ. Victory Capital Management Inc. boosted its holdings in CoBiz Financial by 111.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,029,878 shares of the bank’s stock valued at $20,587,000 after acquiring an additional 543,620 shares during the period. BlackRock Inc. boosted its holdings in CoBiz Financial by 18.5% during the fourth quarter. BlackRock Inc. now owns 3,091,141 shares of the bank’s stock valued at $61,792,000 after acquiring an additional 483,473 shares during the period. Millennium Management LLC boosted its holdings in CoBiz Financial by 747.3% during the fourth quarter. Millennium Management LLC now owns 520,706 shares of the bank’s stock valued at $10,409,000 after acquiring an additional 459,249 shares during the period. Nuance Investments LLC bought a new stake in CoBiz Financial during the fourth quarter valued at about $7,691,000. Finally, EAM Investors LLC bought a new stake in CoBiz Financial during the fourth quarter valued at about $2,145,000. Institutional investors own 82.26% of the company’s stock.

Shares of NASDAQ COBZ traded down $0.19 during mid-day trading on Thursday, reaching $19.61. The company had a trading volume of 58,031 shares, compared to its average volume of 123,277. CoBiz Financial has a twelve month low of $15.39 and a twelve month high of $22.01. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $822.78, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.58 and a beta of 1.18.

CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). CoBiz Financial had a return on equity of 12.44% and a net margin of 18.58%. The company had revenue of $43.09 million during the quarter, compared to analyst estimates of $43.10 million. analysts predict that CoBiz Financial will post 1.23 EPS for the current year.

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About CoBiz Financial

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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