Equities research analysts forecast that CoBiz Financial Inc (NASDAQ:COBZ) will post $0.29 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for CoBiz Financial’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.27. CoBiz Financial posted earnings per share of $0.20 in the same quarter last year, which would suggest a positive year over year growth rate of 45%. The company is expected to announce its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that CoBiz Financial will report full-year earnings of $1.23 per share for the current year, with EPS estimates ranging from $1.19 to $1.31. For the next year, analysts anticipate that the firm will report earnings of $1.39 per share, with EPS estimates ranging from $1.35 to $1.48. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for CoBiz Financial.
COBZ has been the subject of several research analyst reports. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a research note on Tuesday, October 24th. BidaskClub lowered CoBiz Financial from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $23.00 price target on shares of CoBiz Financial in a research note on Friday, December 22nd. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Sandler O’Neill set a $24.00 price target on CoBiz Financial and gave the stock a “buy” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $21.70.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Monday, January 29th were issued a $0.055 dividend. The ex-dividend date was Friday, January 26th. This represents a $0.22 annualized dividend and a dividend yield of 1.16%. CoBiz Financial’s dividend payout ratio is currently 27.85%.
In other news, CEO Steven Bangert sold 2,000 shares of CoBiz Financial stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $20.48, for a total value 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 document filed with the SEC, which can be accessed through this link. 9.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of CoBiz Financial by 18.5% in the fourth quarter. BlackRock Inc. now owns 3,091,141 shares of the bank’s stock worth $61,792,000 after buying an additional 483,473 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of CoBiz Financial by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,908,216 shares of the bank’s stock worth $33,203,000 after buying an additional 57,691 shares during the period. Vanguard Group Inc. increased its holdings in shares of CoBiz Financial by 2.1% in the second quarter. Vanguard Group Inc. now owns 1,703,546 shares of the bank’s stock worth $29,642,000 after buying an additional 35,154 shares during the period. FMR LLC increased its holdings in shares of CoBiz Financial by 2.4% in the second quarter. FMR LLC now owns 1,509,947 shares of the bank’s stock worth $26,273,000 after buying an additional 35,735 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in shares of CoBiz Financial by 13.9% in the third quarter. Macquarie Group Ltd. now owns 1,306,780 shares of the bank’s stock worth $25,665,000 after buying an additional 159,512 shares during the period. Hedge funds and other institutional investors own 84.44% 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.
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