CoBiz Financial Inc. (NASDAQ:COBZ) is scheduled to release its Q316 earnings data on Thursday, October 20th. Analysts expect CoBiz Financial to post earnings of $0.20 per share and revenue of $39.01 million for the quarter.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. CoBiz Financial had a net margin of 17.60% and a return on equity of 9.84%. On average, analysts expect CoBiz Financial to post $0.8 EPS for the current fiscal year and $0.9 EPS for the next fiscal year.
Shares of CoBiz Financial Inc. (NASDAQ:COBZ) opened at 12.96 on Tuesday. The firm has a market capitalization of $530.79 million, a PE ratio of 19.97 and a beta of 1.20. The firm’s 50 day moving average is $13.10 and its 200-day moving average is $12.43. CoBiz Financial Inc. has a 12 month low of $10.31 and a 12 month high of $13.94.
Separately, Zacks Investment Research cut shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $13.35.
In related news, EVP David Pass sold 3,951 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $12.41, for a total value of $49,031.91. Following the sale, the executive vice president now directly owns 13,142 shares of the company’s stock, valued at approximately $163,092.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Richard J. Dalton sold 6,589 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $13.25, for a total transaction of $87,304.25. Following the completion of the sale, the chief operating officer now directly owns 116,130 shares in the company, valued at $1,538,722.50. The disclosure for this sale can be found here. 11.38% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new stake in shares of CoBiz Financial during the second quarter worth approximately $150,000. Parametric Portfolio Associates LLC boosted its stake in shares of CoBiz Financial by 3.7% in the second quarter. Parametric Portfolio Associates LLC now owns 64,470 shares of the company’s stock worth $754,000 after buying an additional 2,304 shares during the last quarter. Penn Capital Management Co. Inc. boosted its stake in shares of CoBiz Financial by 6.0% in the second quarter. Penn Capital Management Co. Inc. now owns 807,237 shares of the company’s stock worth $9,445,000 after buying an additional 45,444 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of CoBiz Financial by 10.1% in the second quarter. Teachers Advisors Inc. now owns 70,758 shares of the company’s stock worth $828,000 after buying an additional 6,512 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of CoBiz Financial by 0.7% in the second quarter. American International Group Inc. now owns 21,413 shares of the company’s stock worth $251,000 after buying an additional 154 shares during the last quarter. 79.62% of the stock is currently owned by hedge funds and other institutional investors.
About CoBiz Financial
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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