Legal & General Group Plc reduced its stake in shares of CoBiz Financial Inc. (NASDAQ:COBZ) by 1.4% during the first quarter, Holdings Channel reports. The fund owned 8,894 shares of the bank’s stock after selling 129 shares during the period. Legal & General Group Plc’s holdings in CoBiz Financial were worth $149,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dalton Greiner Hartman Maher & Co. raised its stake in shares of CoBiz Financial by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 75,915 shares of the bank’s stock valued at $1,275,000 after buying an additional 284 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of CoBiz Financial by 4.1% in the first quarter. Parametric Portfolio Associates LLC now owns 12,887 shares of the bank’s stock valued at $217,000 after buying an additional 504 shares in the last quarter. NBW Capital LLC raised its stake in shares of CoBiz Financial by 0.9% in the first quarter. NBW Capital LLC now owns 136,440 shares of the bank’s stock valued at $2,292,000 after buying an additional 1,158 shares in the last quarter. American International Group Inc. raised its stake in shares of CoBiz Financial by 7.1% in the first quarter. American International Group Inc. now owns 22,906 shares of the bank’s stock valued at $385,000 after buying an additional 1,517 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of CoBiz Financial by 4.8% in the first quarter. Swiss National Bank now owns 61,500 shares of the bank’s stock valued at $1,033,000 after buying an additional 2,800 shares in the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.

Shares of CoBiz Financial Inc. (NASDAQ COBZ) traded up 0.64% during midday trading on Wednesday, hitting $17.31. The stock had a trading volume of 1,115 shares. The firm has a market cap of $715.96 million, a price-to-earnings ratio of 19.45 and a beta of 1.20. CoBiz Financial Inc. has a 1-year low of $11.80 and a 1-year high of $18.85. The firm has a 50-day moving average price of $17.37 and a 200-day moving average price of $16.86.

CoBiz Financial (NASDAQ:COBZ) last posted its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. CoBiz Financial had a return on equity of 12.09% and a net margin of 21.97%. The company had revenue of $40.32 million for the quarter, compared to analyst estimates of $39.88 million. On average, equities analysts anticipate that CoBiz Financial Inc. will post $0.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 31st were issued a dividend of $0.055 per share. This is a positive change from CoBiz Financial’s previous quarterly dividend of $0.05. This represents a $0.22 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, July 27th. CoBiz Financial’s dividend payout ratio (DPR) is 24.72%.

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Several equities research analysts have commented on the company. Piper Jaffray Companies restated a “hold” rating and set a $19.50 price target on shares of CoBiz Financial in a research note on Wednesday, July 26th. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, July 26th. BidaskClub upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. DA Davidson restated a “neutral” rating on shares of CoBiz Financial in a research note on Friday, July 21st. Finally, ValuEngine upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.13.

In other news, COO Richard J. Dalton sold 10,000 shares of CoBiz Financial stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $17.80, for a total value of $178,000.00. Following the transaction, the chief operating officer now directly owns 84,082 shares in the company, valued at $1,496,659.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Page sold 8,057 shares of CoBiz Financial stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $17.68, for a total value of $142,447.76. Following the completion of the transaction, the chief executive officer now owns 65,774 shares in the company, valued at $1,162,884.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,571 shares of company stock worth $755,057. Corporate insiders own 9.90% 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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Institutional Ownership by Quarter for CoBiz Financial (NASDAQ:COBZ)

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