CoBiz Financial (NASDAQ:COBZ) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other equities analysts have also weighed in on COBZ. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research note on Friday, December 29th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $23.00 price objective on shares of CoBiz Financial in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $21.13.

CoBiz Financial (NASDAQ:COBZ) traded up $0.27 during midday trading on Friday, reaching $20.40. The company’s stock had a trading volume of 69,253 shares, compared to its average volume of 94,053. The firm has a market capitalization of $850.16, a price-to-earnings ratio of 22.42, a P/E/G ratio of 1.69 and a beta of 1.26. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94. CoBiz Financial has a one year low of $15.39 and a one year high of $22.01.

CoBiz Financial (NASDAQ:COBZ) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. The company had revenue of $42.76 million for the quarter, compared to analyst estimates of $41.13 million. CoBiz Financial had a return on equity of 12.06% and a net margin of 21.95%. equities research analysts predict that CoBiz Financial will post 0.97 earnings per share for the current fiscal year.

In other news, COO Richard J. Dalton sold 10,004 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $20.76, for a total value of $207,683.04. Following the transaction, the chief operating officer now owns 74,078 shares of the company’s stock, valued at approximately $1,537,859.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Page sold 5,307 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $20.84, for a total value of $110,597.88. Following the completion of the transaction, the chief executive officer now directly owns 60,239 shares in the company, valued at approximately $1,255,380.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,205 shares of company stock worth $1,086,023. Corporate insiders own 9.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in shares of CoBiz Financial by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock valued at $160,000 after purchasing an additional 371 shares during the last quarter. GSA Capital Partners LLP acquired a new position in CoBiz Financial during the 3rd quarter worth about $206,000. Keybank National Association OH acquired a new position in CoBiz Financial during the 3rd quarter worth about $224,000. Parametric Portfolio Associates LLC lifted its stake in CoBiz Financial by 16.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 14,992 shares of the bank’s stock worth $261,000 after acquiring an additional 2,105 shares in the last quarter. Finally, Menta Capital LLC acquired a new position in CoBiz Financial during the 2nd quarter worth about $358,000. 82.89% of the stock is currently owned by institutional investors and hedge funds.

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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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