CoBiz Financial Inc. (NASDAQ:COBZ) will be announcing its Q316 earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $0.20 per share and revenue of $39.01 million for the quarter.
Shares of CoBiz Financial Inc. (NASDAQ:COBZ) opened at 12.89 on Wednesday. The company has a market cap of $527.92 million, a P/E ratio of 19.86 and a beta of 1.20. The stock’s 50 day moving average price is $13.10 and its 200-day moving average price is $12.44. CoBiz Financial Inc. has a 52-week low of $10.31 and a 52-week high of $13.94.
Separately, Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, June 22nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. CoBiz Financial currently has a consensus rating of “Buy” and an average target price of $13.35.
In related news, insider Christopher S. Huss sold 6,269 shares of the stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $12.50, for a total transaction of $78,362.50. Following the sale, the insider now owns 51,943 shares of the company’s stock, valued at $649,287.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Ostertag sold 5,195 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $13.11, for a total value of $68,106.45. Following the sale, the insider now directly owns 65,298 shares in the company, valued at approximately $856,056.78. The disclosure for this sale can be found here. Corporate insiders own 11.38% of the company’s stock.
A number of large investors have recently modified their holdings of COBZ. Nomura Holdings Inc. bought a new stake in shares of CoBiz Financial during the second quarter worth about $150,000. BlackRock Group LTD increased its stake in shares of CoBiz Financial by 69.6% in the second quarter. BlackRock Group LTD now owns 15,373 shares of the company’s stock worth $180,000 after buying an additional 6,310 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of CoBiz Financial by 30.0% in the second quarter. Alliancebernstein L.P. now owns 16,921 shares of the company’s stock worth $198,000 after buying an additional 3,900 shares in the last quarter. BlackRock Advisors LLC increased its stake in shares of CoBiz Financial by 5.5% in the second quarter. BlackRock Advisors LLC now owns 18,463 shares of the company’s stock worth $216,000 after buying an additional 957 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of CoBiz Financial by 0.7% in the second quarter. American International Group Inc. now owns 21,413 shares of the company’s stock worth $251,000 after buying an additional 154 shares in the last quarter. 79.62% of the stock is currently owned by institutional investors and hedge funds.
About CoBiz Financial
CoBiz Financial Inc (CoBiz) is a financial holding company. The Company operates in three segments: Commercial Banking, Fee-Based Lines, and Corporate Support and Other. The Commercial Banking segment offers commercial, real estate and private banking, as well as treasury management, interest-rate hedging and depository products.
Receive News & Ratings for CoBiz Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoBiz Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.