First Trust Advisors LP increased its stake in CoBiz Financial Inc. (NASDAQ:COBZ) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,859 shares of the company’s stock after buying an additional 365 shares during the period. First Trust Advisors LP owned approximately 0.15% of CoBiz Financial worth $700,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of CoBiz Financial by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,185,307 shares of the company’s stock valued at $14,010,000 after buying an additional 67,518 shares during the last quarter. Wellington Management Group LLP raised its position in shares of CoBiz Financial by 9.9% in the first quarter. Wellington Management Group LLP now owns 3,274,667 shares of the company’s stock valued at $38,707,000 after buying an additional 295,319 shares during the last quarter. Metropolitan Life Insurance Co. NY raised 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 valued at $320,000 after buying an additional 1,063 shares during the last quarter. Barclays PLC raised 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 valued at $301,000 after buying an additional 2,976 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. bought a new position in shares of CoBiz Financial during the first quarter valued at $1,411,000. Institutional investors own 79.61% of the company’s stock.
Shares of CoBiz Financial Inc. (NASDAQ:COBZ) traded down 0.23% during trading on Friday, hitting $13.15. 46,132 shares of the company traded hands. The stock has a market cap of $538.57 million, a price-to-earnings ratio of 20.26 and a beta of 1.20. CoBiz Financial Inc. has a one year low of $10.31 and a one year high of $13.94. The firm has a 50 day moving average price of $13.03 and a 200-day moving average price of $12.36.
CoBiz Financial (NASDAQ:COBZ) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.21 EPS for the quarter, topping 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%. Analysts predict that CoBiz Financial Inc. will post $0.80 EPS for the current year.
Separately, Zacks Investment Research lowered shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.35.
In other CoBiz Financial news, insider Robert Ostertag sold 5,195 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $13.11, for a total transaction of $68,106.45. Following the sale, the insider now directly owns 65,298 shares in the company, valued at approximately $856,056.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven Bangert sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $12.62, for a total transaction of $75,720.00. Following the sale, the chief executive officer now owns 1,156,734 shares in the company, valued at $14,597,983.08. The disclosure for this sale can be found here. Company insiders own 11.38% of the company’s stock.
CoBiz Financial Company Profile
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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