Shares of CoBiz Financial Inc. (NASDAQ:COBZ) have been assigned a consensus rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $19.13.

A number of equities analysts have recently issued reports on the company. Piper Jaffray Companies reissued a “hold” rating and set a $19.50 target price on shares of CoBiz Financial in a research note on Wednesday, July 26th. BidaskClub raised CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, September 5th. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, DA Davidson reissued a “neutral” rating on shares of CoBiz Financial in a research note on Friday, July 21st.

Shares of CoBiz Financial (NASDAQ COBZ) opened at 18.27 on Friday. CoBiz Financial has a 52-week low of $12.40 and a 52-week high of $18.85. The stock has a market capitalization of $755.67 million, a PE ratio of 20.53 and a beta of 1.20. The stock has a 50 day moving average price of $17.12 and a 200-day moving average price of $16.79.

CoBiz Financial (NASDAQ:COBZ) last issued its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $40.32 million during the quarter, compared to the consensus estimate of $39.88 million. CoBiz Financial had a return on equity of 12.09% and a net margin of 21.97%. On average, equities research analysts anticipate that CoBiz Financial will post $0.92 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “CoBiz Financial Inc. (COBZ) Given Consensus Recommendation of “Buy” by Brokerages” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/09/24/cobiz-financial-inc-cobz-given-consensus-recommendation-of-buy-by-brokerages.html.

In related news, CEO Steven Bangert sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $17.62, for a total value of $140,960.00. Following the completion of the transaction, the chief executive officer now directly owns 1,016,242 shares of the company’s stock, valued at approximately $17,906,184.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard J. Dalton sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $17.80, for a total value of $178,000.00. Following the completion of the transaction, the chief operating officer now directly owns 84,082 shares of the company’s stock, valued at $1,496,659.60. The disclosure for this sale can be found here. Insiders sold a total of 27,543 shares of company stock valued at $488,016 over the last ninety days. 9.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COBZ. Janus Henderson Group PLC purchased a new position in CoBiz Financial in the 2nd quarter valued at approximately $19,512,000. Wellington Management Group LLP increased its stake in CoBiz Financial by 22.9% in the 1st quarter. Wellington Management Group LLP now owns 2,819,215 shares of the bank’s stock valued at $47,363,000 after purchasing an additional 524,536 shares in the last quarter. Hartford Investment Management Co. purchased a new position in CoBiz Financial in the 2nd quarter valued at approximately $3,035,000. Goldman Sachs Group Inc. increased its stake in CoBiz Financial by 8.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,821,143 shares of the bank’s stock valued at $31,688,000 after purchasing an additional 136,467 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in CoBiz Financial by 10.4% in the 2nd quarter. Macquarie Group Ltd. now owns 1,147,268 shares of the bank’s stock valued at $19,962,000 after purchasing an additional 108,361 shares in the last quarter. 82.93% of the stock is owned by hedge funds and other institutional investors.

CoBiz Financial Company Profile

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.

Analyst Recommendations for CoBiz Financial (NASDAQ:COBZ)

Receive News & Ratings for CoBiz Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoBiz Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.