CoBiz Financial (NASDAQ:COBZ) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
Several other equities analysts have also recently issued reports on the stock. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $23.00 target price for the company in a research note on Friday, December 29th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.00 target price on shares of CoBiz Financial in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $21.13.
CoBiz Financial (COBZ) opened at $20.13 on Friday. 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 12 month low of $15.39 and a 12 month high of $22.01. The stock has a market cap of $839.18, a price-to-earnings ratio of 22.12, a P/E/G ratio of 1.67 and a beta of 1.26.
In other CoBiz Financial news, insider Robert Ostertag sold 17,176 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $20.90, for a total transaction of $358,978.40. Following the completion of the transaction, the insider now directly owns 53,445 shares in the company, valued at $1,117,000.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher S. Huss sold 5,000 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $20.85, for a total transaction of $104,250.00. Following the transaction, the insider now owns 31,002 shares of the company’s stock, valued at $646,391.70. The disclosure for this sale can be found here. Insiders have sold 52,205 shares of company stock valued at $1,086,023 over the last 90 days. 9.90% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its position in CoBiz Financial by 0.6% during the second quarter. Rhumbline Advisers now owns 47,779 shares of the bank’s stock worth $831,000 after acquiring an additional 265 shares during the period. Legal & General Group Plc raised its position in CoBiz Financial by 4.2% during the second quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock worth $160,000 after acquiring an additional 371 shares during the period. Martin & Co. Inc. TN raised its position in CoBiz Financial by 0.6% during the second quarter. Martin & Co. Inc. TN now owns 70,424 shares of the bank’s stock worth $1,225,000 after acquiring an additional 415 shares during the period. Voya Investment Management LLC raised its position in CoBiz Financial by 6.3% during the second quarter. Voya Investment Management LLC now owns 28,708 shares of the bank’s stock worth $500,000 after acquiring an additional 1,698 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in CoBiz Financial by 16.3% during the second 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 during the period. Institutional investors own 82.89% of the company’s stock.
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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