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.
TRADEMARK VIOLATION NOTICE: This news story was first reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://transcriptdaily.com/2018/01/02/cobiz-financial-inc-cobz-receives-consensus-rating-of-buy-from-analysts.html.
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.
Receive News & Ratings for CoBiz Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoBiz Financial and related companies with MarketBeat.com's FREE daily email newsletter.