CoBiz Financial Inc. (NASDAQ:COBZ) CFO Lyne B. Andrich sold 2,335 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $20.99, for a total transaction of $49,011.65. Following the completion of the transaction, the chief financial officer now directly owns 101,122 shares in the company, valued at $2,122,550.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of CoBiz Financial Inc. (NASDAQ:COBZ) traded down 2.68% on Monday, reaching $20.30. 107,667 shares of the company’s stock traded hands. CoBiz Financial Inc. has a 52 week low of $12.40 and a 52 week high of $21.35. The company has a 50 day moving average of $19.02 and a 200-day moving average of $17.39. The stock has a market capitalization of $839.63 million, a PE ratio of 22.81 and a beta of 1.24.

CoBiz Financial (NASDAQ:COBZ) last released its earnings results on Thursday, October 19th. The bank reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. CoBiz Financial had a net margin of 21.95% and a return on equity of 12.24%. The firm had revenue of $42.76 million during the quarter, compared to analyst estimates of $41.13 million. Equities research analysts forecast that CoBiz Financial Inc. will post $0.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Monday, October 30th will be paid a dividend of $0.055 per share. The ex-dividend date is Friday, October 27th. This represents a $0.22 annualized dividend and a yield of 1.08%. CoBiz Financial’s payout ratio is 24.18%.

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Hedge funds have recently added to or reduced their stakes in the business. Sit Investment Associates Inc. increased its stake in CoBiz Financial by 14.8% during the second quarter. Sit Investment Associates Inc. now owns 20,375 shares of the bank’s stock valued at $355,000 after purchasing an additional 2,625 shares during the last quarter. Swiss National Bank increased its stake in CoBiz Financial by 4.8% during the first quarter. Swiss National Bank now owns 61,500 shares of the bank’s stock valued at $1,033,000 after purchasing an additional 2,800 shares during the last quarter. Citadel Advisors LLC increased its stake in CoBiz Financial by 137.6% during the second quarter. Citadel Advisors LLC now owns 61,764 shares of the bank’s stock valued at $1,075,000 after purchasing an additional 35,764 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in CoBiz Financial by 14.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 180,101 shares of the bank’s stock valued at $3,134,000 after purchasing an additional 22,121 shares during the last quarter. Finally, Legato Capital Management LLC increased its stake in CoBiz Financial by 890.1% during the second quarter. Legato Capital Management LLC now owns 40,545 shares of the bank’s stock valued at $705,000 after purchasing an additional 36,450 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

A number of research firms recently commented on COBZ. ValuEngine raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, September 19th. BidaskClub downgraded shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Piper Jaffray Companies reissued a “hold” rating and set a $19.50 price objective on shares of CoBiz Financial in a research report on Wednesday, July 26th. Finally, DA Davidson reissued a “neutral” rating on shares of CoBiz Financial in a research report on Friday, July 21st. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. CoBiz Financial currently has a consensus rating of “Buy” and an average price target of $20.13.

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.

Insider Buying and Selling by Quarter for CoBiz Financial (NASDAQ:COBZ)

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