CoBiz Financial Inc. (COBZ) Sees Strong Trading Volume
Shares of CoBiz Financial Inc. (NASDAQ:COBZ) saw unusually-high trading volume on Friday . Approximately 149,002 shares were traded during mid-day trading, an increase of 190% from the previous session’s volume of 51,300 shares.The stock last traded at $12.55 and had previously closed at $12.57.
COBZ has been the subject of several research reports. Zacks Investment Research cut CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Hovde Group began coverage on CoBiz Financial in a research note on Monday, April 25th. They issued a “market perform” rating and a $13.00 target price for the company. Finally, TheStreet upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Friday, April 22nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $13.35.
The stock has a market capitalization of $510.72 million and a price-to-earnings ratio of 19.21. The company’s 50-day moving average price is $12.44 and its 200 day moving average price is $11.86.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Equities research analysts predict that CoBiz Financial Inc. will post $0.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 8th. Shareholders of record on Monday, August 1st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.60%. This is a boost from CoBiz Financial’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, July 28th.
In other CoBiz Financial news, EVP David Pass sold 3,951 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $12.41, for a total transaction of $49,031.91. Following the transaction, the executive vice president now owns 13,142 shares of the company’s stock, valued at approximately $163,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven Bangert sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $12.62, for a total value of $75,720.00. Following the transaction, the chief executive officer now directly owns 1,156,734 shares in the company, valued at approximately $14,597,983.08. The disclosure for this sale can be found here.
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.
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