State Board of Administration of Florida Retirement System continued to hold its position in shares of CoBiz Financial Inc. (NASDAQ:COBZ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,820 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.09% of CoBiz Financial worth $454,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Metropolitan Life Insurance Co. NY increased its position in shares of CoBiz Financial by 4.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 27,077 shares of the company’s stock worth $320,000 after buying an additional 1,063 shares in the last quarter. Barclays PLC increased its position in shares of CoBiz Financial by 12.2% in the first quarter. Barclays PLC now owns 27,381 shares of the company’s stock worth $301,000 after buying an additional 2,976 shares in the last quarter. Swiss National Bank increased its position in CoBiz Financial by 7.3% in the second quarter. Swiss National Bank now owns 58,700 shares of the company’s stock worth $687,000 after buying an additional 4,000 shares during the period. California State Teachers Retirement System increased its position in CoBiz Financial by 1.4% in the second quarter. California State Teachers Retirement System now owns 78,001 shares of the company’s stock worth $913,000 after buying an additional 1,072 shares during the period. Finally, Endeavour Capital Advisors Inc. purchased a new position in CoBiz Financial during the first quarter worth $1,411,000. Institutional investors own 79.61% of the company’s stock.
CoBiz Financial Inc. (NASDAQ:COBZ) traded down 0.23% during mid-day trading on Friday, hitting $13.15. The company had a trading volume of 46,132 shares. CoBiz Financial Inc. has a 1-year low of $10.31 and a 1-year high of $13.94. The firm has a market capitalization of $538.57 million, a PE ratio of 20.26 and a beta of 1.20. The company has a 50 day moving average of $13.03 and a 200 day moving average of $12.36.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. CoBiz Financial had a net margin of 17.60% and a return on equity of 9.84%. Analysts predict that CoBiz Financial Inc. will post $0.80 earnings per share for the current fiscal year.
Separately, Zacks Investment Research downgraded CoBiz Financial from a “buy” rating to a “hold” rating in a report on Monday, June 27th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $13.35.
In other CoBiz Financial news, EVP David Pass sold 3,951 shares of the firm’s 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 completion of the sale, the executive vice president now owns 13,142 shares of the company’s stock, valued at $163,092.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Page sold 5,154 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $12.56, for a total transaction of $64,734.24. Following the completion of the sale, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at approximately $974,593.20. The disclosure for this sale can be found here. 11.38% of the stock is currently owned by company insiders.
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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