CoBiz Financial Inc. (COBZ) Sees Strong Trading Volume
Shares of CoBiz Financial Inc. (NASDAQ:COBZ) 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 upgraded CoBiz Financial from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, June 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. CoBiz Financial currently has an average rating of “Buy” and an average price target of $13.35.
The firm has a market cap of $539.80 million and a P/E ratio of 20.31. The stock’s 50-day moving average is $12.61 and its 200 day moving average is $11.98.
CoBiz Financial (NASDAQ:COBZ) last posted its earnings results on Thursday, July 21st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. Equities research analysts expect that CoBiz Financial Inc. will post $0.80 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date was Thursday, July 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.52%. This is a boost from CoBiz Financial’s previous quarterly dividend of $0.05.
In other CoBiz Financial news, 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 transaction of $75,720.00. Following the sale, the chief executive officer now owns 1,156,734 shares in the company, valued at $14,597,983.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher S. Huss sold 6,269 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $12.50, for a total value of $78,362.50. Following the sale, the insider now owns 51,943 shares in the company, valued at approximately $649,287.50. 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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