CoBiz Financial Inc. (COBZ) Sees Large Volume Increase
CoBiz Financial Inc. (NASDAQ:COBZ) shares saw strong trading volume on Friday . 149,002 shares traded hands during 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.
A number of research analysts have commented on the company. Hovde Group assumed coverage on CoBiz Financial in a research note on Monday, April 25th. They set a “market perform” rating and a $13.00 price objective on the stock. Zacks Investment Research cut CoBiz Financial from a “hold” rating to a “sell” rating in a research note on Monday, April 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $13.35.
The company has a 50-day moving average of $12.46 and a 200-day moving average of $11.87. The firm has a market cap of $510.72 million and a price-to-earnings ratio of 19.21.
CoBiz Financial (NASDAQ:COBZ) last released its earnings results on Thursday, July 21st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. On average, equities analysts forecast that CoBiz Financial Inc. will post $0.80 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, August 1st were issued a $0.05 dividend. This is a positive change from CoBiz Financial’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, July 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.60%.
In related news, CEO Scott Page sold 5,154 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $12.56, for a total transaction of $64,734.24. Following the completion of the sale, the chief executive officer now directly owns 77,595 shares in the company, valued at $974,593.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Steven Bangert sold 6,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 1,156,734 shares of the company’s stock, valued at $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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