CoBiz Financial (COBZ) Downgraded by BidaskClub to Sell

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

COBZ has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 price objective on shares of CoBiz Financial in a report on Friday, December 22nd. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Piper Jaffray Companies restated a “hold” rating on shares of CoBiz Financial in a report on Tuesday. Finally, Sandler O’Neill set a $24.00 price objective on shares of CoBiz Financial and gave the stock a “buy” rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. CoBiz Financial presently has an average rating of “Buy” and a consensus price target of $21.70.

CoBiz Financial (NASDAQ:COBZ) traded down $0.24 during trading on Friday, hitting $19.96. 94,406 shares of the company were exchanged, compared to its average volume of 131,625. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. CoBiz Financial has a 52 week low of $15.39 and a 52 week high of $22.01. The firm has a market cap of $852.78, a P/E ratio of 25.27, a PEG ratio of 1.64 and a beta of 1.17.

In other CoBiz Financial news, CEO Steven Bangert sold 2,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $20.48, for a total transaction of $40,960.00. Following the transaction, the chief executive officer now owns 1,006,359 shares in the company, valued at $20,610,232.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COBZ. Simplex Trading LLC acquired a new position in CoBiz Financial during the fourth quarter worth $116,000. Legal & General Group Plc grew 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 worth $160,000 after acquiring an additional 371 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of CoBiz Financial in the 3rd quarter worth $206,000. Keybank National Association OH bought a new stake in shares of CoBiz Financial in the 3rd quarter worth $224,000. Finally, Parametric Portfolio Associates LLC grew its stake in shares of CoBiz Financial by 16.3% in 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. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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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.

Analyst Recommendations for CoBiz Financial (NASDAQ:COBZ)

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