CoBiz Financial Inc. (COBZ) Scheduled to Post Earnings on Thursday
CoBiz Financial Inc. (NASDAQ:COBZ) is scheduled to release its earnings data after the market closes on Thursday, October 19th. Analysts expect CoBiz Financial to post earnings of $0.23 per share for the quarter.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. CoBiz Financial had a return on equity of 12.09% and a net margin of 21.97%. The firm had revenue of $40.32 million for the quarter, compared to analysts’ expectations of $39.88 million. On average, analysts expect CoBiz Financial to post $0.92 EPS for the current fiscal year and $1.09 EPS for the next fiscal year.
CoBiz Financial Inc. (NASDAQ COBZ) opened at 19.38 on Thursday. CoBiz Financial Inc. has a 52-week low of $12.40 and a 52-week high of $19.82. The stock’s 50 day moving average price is $17.88 and its 200-day moving average price is $17.05. The stock has a market capitalization of $801.58 million, a PE ratio of 21.78 and a beta of 1.24.
In other CoBiz Financial news, CEO Steven Bangert sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $17.62, for a total transaction of $140,960.00. Following the transaction, the chief executive officer now owns 1,016,242 shares in the company, valued at $17,906,184.04. The sale 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 stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.80, for a total value of $178,000.00. Following the transaction, the chief operating officer now owns 84,082 shares in the company, valued at approximately $1,496,659.60. The disclosure for this sale can be found here. Insiders have sold 27,543 shares of company stock worth $488,016 in the last quarter. 9.90% of the stock is currently owned by company insiders.
COBZ has been the topic of several analyst reports. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. BidaskClub downgraded CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. DA Davidson reiterated a “neutral” rating on shares of CoBiz Financial in a research report on Friday, July 21st. Piper Jaffray Companies reiterated a “hold” rating and set a $19.50 price target on shares of CoBiz Financial in a research report on Wednesday, July 26th. Finally, Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, July 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.13.
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.
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