Insider Selling: CoBiz Financial Inc (COBZ) COO Sells 5,324 Shares of Stock
CoBiz Financial Inc (NASDAQ:COBZ) COO Richard J. Dalton sold 5,324 shares of the business’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $16.95, for a total value of $90,241.80. Following the completion of the sale, the chief operating officer now directly owns 98,076 shares of the company’s stock, valued at $1,662,388.20. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of CoBiz Financial Inc (NASDAQ:COBZ) traded down 2.53% during mid-day trading on Monday, reaching $16.92. The company’s stock had a trading volume of 83,573 shares. The company has a 50-day moving average of $17.27 and a 200-day moving average of $15.36. The company has a market cap of $695.21 million, a P/E ratio of 20.14 and a beta of 1.24. CoBiz Financial Inc has a 12 month low of $10.79 and a 12 month high of $17.99.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings data on Thursday, January 26th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. CoBiz Financial had a return on equity of 12.18% and a net margin of 21.55%. The firm had revenue of $39.26 million for the quarter, compared to analysts’ expectations of $39.43 million. During the same period last year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts forecast that CoBiz Financial Inc will post $0.89 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Martingale Asset Management L P bought a new position in shares of CoBiz Financial during the fourth quarter worth about $435,000. Dimensional Fund Advisors LP boosted its position in shares of CoBiz Financial by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,815,165 shares of the company’s stock worth $30,658,000 after buying an additional 14,750 shares during the period. State Street Corp boosted its position in shares of CoBiz Financial by 4.1% in the fourth quarter. State Street Corp now owns 636,216 shares of the company’s stock worth $10,744,000 after buying an additional 25,178 shares during the period. Russell Investments Group Ltd. bought a new position in shares of CoBiz Financial during the fourth quarter worth about $5,780,000. Finally, Perkins Investment Management LLC boosted its position in shares of CoBiz Financial by 22.9% in the third quarter. Perkins Investment Management LLC now owns 1,061,297 shares of the company’s stock worth $14,126,000 after buying an additional 197,580 shares during the period. 81.11% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on COBZ. Hovde Group raised CoBiz Financial from a “market perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research report on Friday, March 10th. Zacks Investment Research lowered CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 7th.
CoBiz Financial Company Profile
CoBiz Financial Inc (CoBiz) is a financial holding company. The Company operates in three segments: Commercial Banking, Fee-Based Lines, and Corporate Support and Other. The Commercial Banking segment offers commercial, real estate and private banking, as well as treasury management, interest-rate hedging and depository products.
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