Sippican Capital Advisors reduced its position in CoBiz Financial Inc. (NASDAQ:COBZ) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,400 shares of the company’s stock after selling 1,600 shares during the period. Sippican Capital Advisors owned 0.14% of CoBiz Financial worth $672,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted 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 worth $38,707,000 after buying an additional 295,319 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 worth $14,010,000 after buying an additional 67,518 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of CoBiz Financial by 11.6% in the first quarter. Renaissance Technologies LLC now owns 398,000 shares of the company’s stock worth $4,704,000 after buying an additional 41,300 shares in the last quarter. Royal Bank of Canada boosted its position in shares of CoBiz Financial by 1.6% in the first quarter. Royal Bank of Canada now owns 307,211 shares of the company’s stock worth $3,631,000 after buying an additional 4,811 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of CoBiz Financial by 2.7% in the first quarter. Geode Capital Management LLC now owns 253,538 shares of the company’s stock worth $2,996,000 after buying an additional 6,632 shares in the last quarter. 79.61% of the stock is currently owned by hedge funds and other institutional investors.
CoBiz Financial Inc. (NASDAQ:COBZ) remained flat at $13.09 during trading on Thursday. 80,782 shares of the stock were exchanged. CoBiz Financial Inc. has a 12-month low of $10.31 and a 12-month high of $13.94. The stock’s 50 day moving average is $12.84 and its 200 day moving average is $12.20. The stock has a market cap of $536.11 million, a price-to-earnings ratio of 20.17 and a beta of 1.37.
CoBiz Financial (NASDAQ:COBZ) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. CoBiz Financial had a return on equity of 9.84% and a net margin of 17.60%. On average, equities analysts anticipate that CoBiz Financial Inc. will post $0.80 earnings per share for the current year.
Separately, Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, June 22nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. CoBiz Financial has an average rating of “Buy” and an average target price of $13.35.
In other CoBiz Financial news, CEO Scott Page sold 5,154 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $12.56, for a total value of $64,734.24. Following the transaction, the chief executive officer now owns 77,595 shares of the company’s stock, valued at $974,593.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher S. Huss sold 6,269 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $12.50, for a total value of $78,362.50. Following the completion of the transaction, the insider now directly owns 51,943 shares in the company, valued at approximately $649,287.50. The disclosure for this sale can be found here. Insiders own 11.38% of the company’s stock.
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.
Want to see what other hedge funds are holding COBZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoBiz Financial Inc. (NASDAQ:COBZ).
Receive News & Ratings for CoBiz Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoBiz Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.