Several analysts have recently updated their ratings and price targets for CoBiz Financial (NASDAQ: COBZ):

  • 8/3/2017 – CoBiz Financial was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/26/2017 – CoBiz Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $20.00 price target on the stock. According to Zacks, “CoBiz Inc. is a financial holding company headquartered in Denver. The company operates Colorado Business Bank and Arizona Business Bank, full-service commercial banking institutions that offer a broad range of sophisticated banking services including credit, treasury management, investment and deposit products to a targeted customer base of professionals and small to mid-sized businesses. CoBiz also offers trust and fiduciary services through CoBiz Private Asset Management; property and casualty insurance brokerage and risk management consulting services through CoBiz Insurance; investment banking services through Green Manning & Bunch; the management of stock and bond portfolios for individuals and institutions through Alexander Capital Management Group; and employee and executive benefits consulting and wealth transfer services through Financial Designs. “
  • 7/26/2017 – CoBiz Financial had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $19.50 price target on the stock.
  • 7/25/2017 – CoBiz Financial was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/21/2017 – CoBiz Financial had its “neutral” rating reaffirmed by analysts at DA Davidson.
  • 7/12/2017 – CoBiz Financial was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/28/2017 – CoBiz Financial was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “CoBiz Inc. is a financial holding company headquartered in Denver. The company operates Colorado Business Bank and Arizona Business Bank, full-service commercial banking institutions that offer a broad range of sophisticated banking services including credit, treasury management, investment and deposit products to a targeted customer base of professionals and small to mid-sized businesses. CoBiz also offers trust and fiduciary services through CoBiz Private Asset Management; property and casualty insurance brokerage and risk management consulting services through CoBiz Insurance; investment banking services through Green Manning & Bunch; the management of stock and bond portfolios for individuals and institutions through Alexander Capital Management Group; and employee and executive benefits consulting and wealth transfer services through Financial Designs. “
  • 6/15/2017 – CoBiz Financial was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

Shares of CoBiz Financial Inc. (NASDAQ COBZ) traded up 0.91% during midday trading on Tuesday, reaching $17.79. The company’s stock had a trading volume of 86,471 shares. CoBiz Financial Inc. has a 12 month low of $11.80 and a 12 month high of $18.85. The firm has a market cap of $735.81 million, a price-to-earnings ratio of 19.99 and a beta of 1.20. The company has a 50-day moving average price of $17.16 and a 200-day moving average price of $16.88.

CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The firm had revenue of $40.32 million for the quarter, compared to analyst estimates of $39.88 million. CoBiz Financial had a return on equity of 12.09% and a net margin of 21.97%. Equities analysts expect that CoBiz Financial Inc. will post $0.92 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 31st were given a dividend of $0.055 per share. This is a positive change from CoBiz Financial’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.22 annualized dividend and a dividend yield of 1.24%. CoBiz Financial’s payout ratio is 24.72%.

In other CoBiz Financial news, insider Robert Ostertag sold 3,976 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $16.02, for a total transaction of $63,695.52. Following the transaction, the insider now owns 68,930 shares of the company’s stock, valued at approximately $1,104,258.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Page sold 8,057 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.68, for a total value of $142,447.76. Following the transaction, the chief executive officer now directly owns 65,774 shares in the company, valued at approximately $1,162,884.32. The disclosure for this sale can be found here. Insiders have sold a total of 39,547 shares of company stock worth $677,793 in the last ninety days. Insiders own 9.90% of the company’s stock.

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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