CoBiz Financial (NASDAQ:COBZ) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other equities analysts also recently issued reports on COBZ. Zacks Investment Research upgraded shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $23.00 price objective on shares of CoBiz Financial in a research note on Friday, December 22nd. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Sandler O’Neill set a $24.00 price objective on shares of CoBiz Financial and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, Piper Jaffray Companies restated a “hold” rating on shares of CoBiz Financial in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.70.

CoBiz Financial (NASDAQ:COBZ) opened at $19.96 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. CoBiz Financial has a 12 month low of $15.39 and a 12 month high of $22.01. The stock has a market cap of $842.65, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17.

In other news, CEO Steven Bangert sold 2,883 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $20.45, for a total value of $58,957.35. Following the completion of the sale, the chief executive officer now directly owns 1,008,359 shares of the company’s stock, valued at $20,620,941.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.90% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of CoBiz Financial by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,908,216 shares of the bank’s stock valued at $33,203,000 after buying an additional 57,691 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of CoBiz Financial by 8.1% in the second quarter. Goldman Sachs Group Inc. now owns 1,821,143 shares of the bank’s stock valued at $31,688,000 after buying an additional 136,467 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of CoBiz Financial by 2.1% in the second quarter. Vanguard Group Inc. now owns 1,703,546 shares of the bank’s stock valued at $29,642,000 after buying an additional 35,154 shares during the last quarter. FMR LLC raised its holdings in shares of CoBiz Financial by 2.4% in the second quarter. FMR LLC now owns 1,509,947 shares of the bank’s stock valued at $26,273,000 after buying an additional 35,735 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of CoBiz Financial by 13.9% in the third quarter. Macquarie Group Ltd. now owns 1,306,780 shares of the bank’s stock valued at $25,665,000 after buying an additional 159,512 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for CoBiz Financial (NASDAQ:COBZ)

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