Forest Hill Capital LLC increased its stake in CoBiz Financial Inc (NASDAQ:COBZ) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 302,657 shares of the bank’s stock after purchasing an additional 9,800 shares during the quarter. CoBiz Financial makes up approximately 1.7% of Forest Hill Capital LLC’s investment portfolio, making the stock its 27th biggest position. Forest Hill Capital LLC owned approximately 0.72% of CoBiz Financial worth $6,050,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Simplex Trading LLC purchased a new stake in CoBiz Financial in the 4th quarter worth $116,000. GSA Capital Partners LLP purchased a new stake in CoBiz Financial in the 3rd quarter worth $206,000. Keybank National Association OH purchased a new stake in CoBiz Financial in the 3rd quarter worth $224,000. Teacher Retirement System of Texas purchased a new stake in CoBiz Financial in the 4th quarter worth $258,000. Finally, Parametric Portfolio Associates LLC increased its stake in 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 buying an additional 2,105 shares in the last quarter. 82.28% of the stock is currently owned by institutional investors.
COBZ has been the subject of a number of analyst reports. BidaskClub lowered CoBiz Financial from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Zacks Investment Research lowered CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued 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, three have given a hold rating and three have issued a buy rating to the stock. CoBiz Financial currently has a consensus rating of “Hold” and an average target price of $22.38.
CoBiz Financial (NASDAQ:COBZ) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). The firm had revenue of $43.09 million for the quarter, compared to analysts’ expectations of $43.10 million. CoBiz Financial had a net margin of 18.58% and a return on equity of 12.44%. sell-side analysts forecast that CoBiz Financial Inc will post 1.23 EPS for the current year.
In other news, CEO Steven Bangert sold 3,941 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $19.90, for a total transaction of $78,425.90. Following the completion of the transaction, the chief executive officer now owns 1,022,724 shares in the company, valued at $20,352,207.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Richard J. Dalton sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $19.90, for a total value of $199,000.00. Following the transaction, the executive vice president now owns 73,259 shares of the company’s stock, valued at approximately $1,457,854.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,441 shares of company stock valued at $326,751. Company insiders own 9.90% of the company’s stock.
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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