CoBiz Financial Inc. (COBZ) Sees Strong Trading Volume
CoBiz Financial Inc. (NASDAQ:COBZ) shares saw unusually-high trading volume on Tuesday . Approximately 53,475 shares were traded during trading, an increase of 6% from the previous session’s volume of 50,486 shares.The stock last traded at $13.00 and had previously closed at $12.97.
Separately, Zacks Investment Research lowered CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $13.35.
The firm has a 50-day moving average of $12.60 and a 200-day moving average of $11.97. The company has a market cap of $532.02 million and a PE ratio of 20.02.
CoBiz Financial (NASDAQ:COBZ) last posted its earnings results on Thursday, July 21st. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. On average, equities research analysts forecast that CoBiz Financial Inc. will post $0.80 earnings per share for the current fiscal year.
The business 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 of this dividend was Thursday, July 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.54%.
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 completion of the sale, the insider now directly 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 accessible through this hyperlink. Also, COO Richard J. Dalton sold 5,284 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $12.63, for a total value of $66,736.92. Following the sale, the chief operating officer now directly owns 122,719 shares of the company’s stock, valued at $1,549,940.97. The disclosure for this sale can be found here.
An institutional investor recently raised its position in CoBiz Financial stock. Schwab Charles Investment Management Inc. raised its position in shares of CoBiz Financial Inc. (NASDAQ:COBZ) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 128,490 shares of the company’s stock after buying an additional 4,571 shares during the period. Schwab Charles Investment Management Inc. owned 0.32% of CoBiz Financial worth $1,725,000 as of its most recent SEC filing.
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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