Analysts expect CoBiz Financial Inc (NASDAQ:COBZ) to announce earnings of $0.27 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for CoBiz Financial’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.27. CoBiz Financial reported earnings per share of $0.21 during the same quarter last year, which would suggest a positive year over year growth rate of 28.6%. The business is scheduled to issue its next earnings results on Thursday, January 25th.
On average, analysts expect that CoBiz Financial will report full-year earnings of $0.97 per share for the current fiscal year, with EPS estimates ranging from $0.96 to $0.97. For the next financial year, analysts anticipate that the company will report earnings of $1.15 per share, with EPS estimates ranging from $1.08 to $1.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for CoBiz Financial.
CoBiz Financial (NASDAQ:COBZ) last released its earnings results on Thursday, October 19th. The bank reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. CoBiz Financial had a net margin of 21.95% and a return on equity of 12.06%. The firm had revenue of $42.76 million for the quarter, compared to analyst estimates of $41.13 million.
A number of research firms recently weighed in on COBZ. Zacks Investment Research upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, September 5th. BidaskClub lowered shares of CoBiz Financial from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, ValuEngine lowered shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $20.13.
In other news, CEO Scott Page sold 5,307 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $20.84, for a total value of $110,597.88. Following the completion of the sale, the chief executive officer now directly owns 60,239 shares of the company’s stock, valued at $1,255,380.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven Bangert sold 2,883 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $20.45, for a total value of $58,957.35. Following the completion of the sale, the chief executive officer now directly owns 1,008,359 shares of the company’s stock, valued at $20,620,941.55. The disclosure for this sale can be found here. Insiders sold 52,205 shares of company stock worth $1,086,023 over the last quarter. 9.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of COBZ. Teachers Advisors LLC lifted its holdings in shares of CoBiz Financial by 5.3% during the first quarter. Teachers Advisors LLC now owns 90,573 shares of the bank’s stock worth $1,522,000 after purchasing an additional 4,563 shares during the period. Vanguard Group Inc. lifted its holdings in shares of CoBiz Financial by 3.5% during the first quarter. Vanguard Group Inc. now owns 1,668,392 shares of the bank’s stock worth $28,030,000 after purchasing an additional 56,641 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CoBiz Financial by 32.6% during the first quarter. Geode Capital Management LLC now owns 361,533 shares of the bank’s stock worth $6,073,000 after purchasing an additional 88,870 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of CoBiz Financial by 5.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 157,980 shares of the bank’s stock worth $2,655,000 after purchasing an additional 8,667 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of CoBiz Financial by 33.9% during the first quarter. Bank of America Corp DE now owns 54,018 shares of the bank’s stock worth $907,000 after purchasing an additional 13,685 shares during the period. 82.89% of the stock is owned by hedge funds and other institutional investors.
CoBiz Financial (NASDAQ COBZ) traded down $0.26 during mid-day trading on Thursday, hitting $20.46. 103,331 shares of the company were exchanged, compared to its average volume of 117,379. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94. CoBiz Financial has a 12-month low of $15.39 and a 12-month high of $22.01. The stock has a market capitalization of $864.09, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.12 and a beta of 1.26.
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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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