Zacks: Analysts Expect CoBiz Financial Inc (COBZ) to Announce $0.27 EPS
Equities research analysts predict that CoBiz Financial Inc (NASDAQ:COBZ) will announce earnings per share of $0.27 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for CoBiz Financial’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.26. CoBiz Financial reported earnings of $0.21 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.6%. The company is expected to report its next earnings results on Thursday, January 25th.
On average, analysts expect that CoBiz Financial will report full year earnings of $0.97 per share for the current financial year, with EPS estimates ranging from $0.96 to $0.97. For the next year, analysts expect that the company will report earnings of $1.15 per share, with EPS estimates ranging from $1.08 to $1.20. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover CoBiz Financial.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. The business had revenue of $42.76 million during the quarter, compared to the consensus estimate of $41.13 million. CoBiz Financial had a return on equity of 12.06% and a net margin of 21.95%.
Shares of CoBiz Financial (COBZ) traded down $0.19 during trading hours on Thursday, hitting $20.80. The stock had a trading volume of 73,600 shares, compared to its average volume of 107,075. The stock has a market capitalization of $886.48, a P/E ratio of 23.07, a P/E/G ratio of 2.17 and a beta of 1.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. CoBiz Financial has a twelve month low of $15.39 and a twelve month high of $22.01.
In related news, CEO Steven Bangert sold 2,883 shares of CoBiz Financial stock in a transaction on Monday, November 6th. The stock was sold at an average price of $20.45, for a total value of $58,957.35. Following the transaction, the chief executive officer now owns 1,008,359 shares in the company, valued at $20,620,941.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher S. Huss sold 5,000 shares of CoBiz Financial stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $20.85, for a total value of $104,250.00. Following the completion of the transaction, the insider now owns 31,002 shares in the company, valued at approximately $646,391.70. The disclosure for this sale can be found here. Insiders sold 52,205 shares of company stock worth $1,086,023 in the last quarter. 9.90% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in CoBiz Financial by 4.2% in the second quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock valued at $160,000 after acquiring an additional 371 shares during the last quarter. Aperio Group LLC acquired a new position in shares of CoBiz Financial during the second quarter worth about $180,000. GSA Capital Partners LLP acquired a new position in shares of CoBiz Financial during the third quarter worth about $206,000. Keybank National Association OH acquired a new position in shares of CoBiz Financial during the third quarter worth about $224,000. Finally, BSW Wealth Partners lifted its stake in shares of CoBiz Financial by 0.3% during the second quarter. BSW Wealth Partners now owns 14,399 shares of the bank’s stock worth $251,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 82.89% of the company’s stock.
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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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