CoBiz Financial Inc (COBZ) Expected to Announce Quarterly Sales of $43.66 Million

Equities analysts expect CoBiz Financial Inc (NASDAQ:COBZ) to announce $43.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for CoBiz Financial’s earnings, with the highest sales estimate coming in at $44.40 million and the lowest estimate coming in at $42.91 million. CoBiz Financial posted sales of $38.41 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.7%. The firm is expected to issue its next quarterly earnings report on Thursday, April 26th.

On average, analysts expect that CoBiz Financial will report full-year sales of $43.66 million for the current fiscal year, with estimates ranging from $177.18 million to $185.00 million. For the next year, analysts anticipate that the firm will report sales of $197.09 million per share, with estimates ranging from $192.88 million to $201.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover CoBiz Financial.

COBZ has been the topic of a number of research analyst reports. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock 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 restated a “buy” rating and set a $23.00 price target on shares of CoBiz Financial in a research note on Friday, December 22nd. ValuEngine upgraded 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $21.70.

In other news, CEO Steven Bangert sold 2,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $20.48, for a total transaction of $40,960.00. Following the sale, the chief executive officer now owns 1,006,359 shares in the company, valued at $20,610,232.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Simplex Trading LLC purchased a new stake in CoBiz Financial in the fourth quarter valued at approximately $116,000. GSA Capital Partners LLP acquired a new position in CoBiz Financial in the third quarter valued at approximately $206,000. Keybank National Association OH acquired a new position in CoBiz Financial in the third quarter valued at approximately $224,000. Teacher Retirement System of Texas acquired a new position in CoBiz Financial in the fourth quarter valued at approximately $258,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in CoBiz Financial in the fourth quarter valued at approximately $277,000. Hedge funds and other institutional investors own 84.44% of the company’s stock.

CoBiz Financial (NASDAQ:COBZ) opened at $19.30 on Thursday. The company has a market cap of $805.50, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.55 and a beta of 1.17. 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 fifty-two week low of $15.39 and a fifty-two week high of $22.01.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Monday, January 29th were paid a dividend of $0.055 per share. The ex-dividend date was Friday, January 26th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.14%. CoBiz Financial’s payout ratio is 27.85%.

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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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