CoBiz Financial Inc (COBZ) Stake Decreased by First Trust Advisors LP
First Trust Advisors LP lessened its stake in shares of CoBiz Financial Inc (NASDAQ:COBZ) by 12.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,037 shares of the bank’s stock after selling 12,048 shares during the quarter. First Trust Advisors LP owned about 0.20% of CoBiz Financial worth $1,631,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Martin & Co. Inc. TN lifted its position in shares of CoBiz Financial by 0.6% during the 2nd quarter. Martin & Co. Inc. TN now owns 70,424 shares of the bank’s stock worth $1,225,000 after buying an additional 415 shares during the last quarter. State Street Corp raised its position in CoBiz Financial by 7.0% in the 2nd quarter. State Street Corp now owns 703,050 shares of the bank’s stock valued at $12,233,000 after purchasing an additional 46,139 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in CoBiz Financial in the 2nd quarter valued at $19,512,000. Macquarie Group Ltd. raised its position in CoBiz Financial by 10.4% in the 2nd quarter. Macquarie Group Ltd. now owns 1,147,268 shares of the bank’s stock valued at $19,962,000 after purchasing an additional 108,361 shares during the last quarter. Finally, Broadview Advisors LLC raised its position in CoBiz Financial by 0.8% in the 2nd quarter. Broadview Advisors LLC now owns 1,058,118 shares of the bank’s stock valued at $18,411,000 after purchasing an additional 8,350 shares during the last quarter. Institutional investors and hedge funds own 82.86% of the company’s stock.
Shares of CoBiz Financial Inc (COBZ) opened at $21.64 on Thursday. CoBiz Financial Inc has a 12-month low of $15.10 and a 12-month high of $22.01. The company has a market cap of $893.24, a price-to-earnings ratio of 23.24, a P/E/G ratio of 2.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. The company had revenue of $42.76 million during the quarter, compared to the consensus estimate of $41.13 million. CoBiz Financial had a net margin of 21.95% and a return on equity of 12.06%. equities analysts forecast that CoBiz Financial Inc will post 0.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 30th were given a dividend of $0.055 per share. The ex-dividend date was Friday, October 27th. This represents a $0.22 dividend on an annualized basis and a yield of 1.02%. CoBiz Financial’s payout ratio is currently 24.18%.
In other CoBiz Financial news, CEO Scott Page sold 5,307 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $20.84, for a total transaction of $110,597.88. Following the completion of the transaction, the chief executive officer now owns 60,239 shares in the company, valued at approximately $1,255,380.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Lyne B. Andrich sold 2,335 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $20.99, for a total transaction of $49,011.65. Following the transaction, the chief financial officer now owns 101,122 shares of the company’s stock, valued at approximately $2,122,550.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,205 shares of company stock valued at $1,086,023. 9.90% of the stock is owned by insiders.
Several analysts recently commented on the stock. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Tuesday, September 19th. Finally, BidaskClub downgraded shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $20.13.
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CoBiz Financial Profile
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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