CoBiz Financial Inc (COBZ) Receives Consensus Rating of “Buy” from Analysts

CoBiz Financial Inc (NASDAQ:COBZ) has received an average recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $21.13.

A number of equities analysts have commented on the stock. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Investment Research upgraded shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research report on Friday. Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 price objective on shares of CoBiz Financial in a research report on Friday, December 22nd. Finally, BidaskClub downgraded shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th.

CoBiz Financial (NASDAQ:COBZ) opened at $19.99 on Tuesday. The company has a market cap of $844.24, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 2.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. CoBiz Financial has a 12-month low of $15.39 and a 12-month high of $22.01.

CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. The company had revenue of $42.76 million during the quarter, compared to the consensus estimate of $41.13 million. CoBiz Financial had a net margin of 21.95% and a return on equity of 12.06%. sell-side analysts expect that CoBiz Financial will post 0.97 earnings per share for the current year.

In other news, CEO Steven Bangert sold 2,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $20.48, for a total transaction of $40,960.00. Following the transaction, the chief executive officer now directly owns 1,006,359 shares of the company’s stock, valued at approximately $20,610,232.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert Ostertag sold 17,176 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $20.90, for a total transaction of $358,978.40. Following the transaction, the insider now directly owns 53,445 shares in the company, valued at $1,117,000.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,205 shares of company stock worth $1,086,023. Corporate insiders own 9.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in shares of CoBiz Financial by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 47,779 shares of the bank’s stock worth $831,000 after purchasing an additional 265 shares during the period. Legal & General Group Plc grew its stake in shares of CoBiz Financial by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock worth $160,000 after purchasing an additional 371 shares during the period. Martin & Co. Inc. TN grew its stake in shares of CoBiz Financial by 0.6% during the 2nd quarter. Martin & Co. Inc. TN now owns 70,424 shares of the bank’s stock worth $1,225,000 after purchasing an additional 415 shares during the period. Voya Investment Management LLC grew its stake in shares of CoBiz Financial by 6.3% during the 2nd quarter. Voya Investment Management LLC now owns 28,708 shares of the bank’s stock worth $500,000 after purchasing an additional 1,698 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in shares of CoBiz Financial by 16.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 14,992 shares of the bank’s stock worth $261,000 after purchasing an additional 2,105 shares during the period. 82.89% of the stock is currently owned by institutional investors and hedge funds.

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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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