Macquarie Group Ltd. Purchases 108,361 Shares of CoBiz Financial Inc. (COBZ)
Macquarie Group Ltd. lifted its position in shares of CoBiz Financial Inc. (NASDAQ:COBZ) by 10.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,147,268 shares of the bank’s stock after acquiring an additional 108,361 shares during the quarter. Macquarie Group Ltd. owned approximately 2.77% of CoBiz Financial worth $19,962,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BSW Wealth Partners boosted its holdings in shares of CoBiz Financial by 0.3% during the 2nd quarter. BSW Wealth Partners now owns 14,399 shares of the bank’s stock valued at $251,000 after acquiring an additional 43 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of CoBiz Financial by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 47,779 shares of the bank’s stock valued at $831,000 after acquiring an additional 265 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of CoBiz Financial by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock valued at $160,000 after acquiring an additional 371 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of CoBiz Financial by 4.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 12,887 shares of the bank’s stock valued at $217,000 after acquiring an additional 504 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in shares of CoBiz Financial by 7.1% during the 1st quarter. American International Group Inc. now owns 22,906 shares of the bank’s stock valued at $385,000 after acquiring an additional 1,517 shares in the last quarter. 82.93% of the stock is currently owned by institutional investors.
In other news, COO Richard J. Dalton sold 10,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $17.80, for a total transaction of $178,000.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven Bangert sold 8,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $17.62, for a total transaction of $140,960.00. Following the sale, the chief executive officer now owns 1,016,242 shares of the company’s stock, valued at $17,906,184.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,543 shares of company stock valued at $488,016. 9.90% of the stock is currently owned by company insiders.
CoBiz Financial Inc. (NASDAQ:COBZ) opened at 19.35 on Thursday. The firm’s 50-day moving average price is $17.88 and its 200 day moving average price is $17.05. The firm has a market capitalization of $800.34 million, a P/E ratio of 21.74 and a beta of 1.24. CoBiz Financial Inc. has a one year low of $12.40 and a one year high of $19.82.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $40.32 million for the quarter, compared to analysts’ expectations of $39.88 million. On average, equities analysts anticipate that CoBiz Financial Inc. will post $0.92 earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on the company. ValuEngine downgraded CoBiz Financial from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Piper Jaffray Companies reissued a “hold” rating and set a $19.50 price objective on shares of CoBiz Financial in a report on Wednesday, July 26th. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, July 26th. BidaskClub raised CoBiz Financial from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of CoBiz Financial in a report on Friday, July 21st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.13.
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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