November 24, 2016 - By Darrin Black
EVP & Chief Financial Officer Lyne Andrich of Cobiz Financial Inc, unloaded some 5,667 of the public firm shares valued at near $87,555 U.S. Dollars with an average of $15.5 per share. Lyne is trying to silently decrease her company’s share, same as she did in the last month. She unloaded another 2,000 shares worth $30,022 USD. Currently, Mr. Lyne, owns 103,542 shares, which accounts for 0.25% of Cobiz Financial Inc’s market cap.
Out of 4 analysts covering CoBiz Financial Inc (NASDAQ:COBZ), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $14 is the highest target while $13 is the lowest. The $13.63 average target is -11.67% below today’s ($15.43) stock price. CoBiz Financial Inc has been the topic of 8 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Zacks on Monday, August 31. The rating was maintained by RBC Capital Markets on Tuesday, February 16 with “Outperform”. The stock of CoBiz Financial Inc (NASDAQ:COBZ) earned “Neutral” rating by Macquarie Research on Monday, October 24. The stock has “Sell” rating given by Zacks on Monday, August 17. The firm earned “Market Perform” rating on Monday, April 25 by Hovde Group. The firm has “Outperform” rating by Macquarie Research given on Monday, October 19.
Insitutional Activity: The institutional sentiment increased to 1.81 in 2016 Q2. Its up 0.67, from 1.14 in 2016Q1. The ratio improved, as 10 funds sold all CoBiz Financial Inc shares owned while 25 reduced positions. 5 funds bought stakes while 35 increased positions. They now own 30.87 million shares or 2.00% less from 31.50 million shares in 2016Q1.
Banc Funds Communications Limited Co has invested 1.34% of its portfolio in CoBiz Financial Inc (NASDAQ:COBZ). Tiaa Cref Invest Management Lc accumulated 0% or 143,703 shares. Blackrock reported 8,016 shares or 0% of all its holdings. California State Teachers Retirement Systems has 78,001 shares for 0% of their US portfolio. Fmr Limited Liability Com, a Massachusetts-based fund reported 1.34M shares. The California-based Schwab Charles Inv Management has invested 0% in CoBiz Financial Inc (NASDAQ:COBZ). Pub Employees Retirement Association Of Colorado has 16,938 shares for 0% of their US portfolio. Renaissance Tech Ltd holds 0.01% of its portfolio in CoBiz Financial Inc (NASDAQ:COBZ) for 496,800 shares. Credit Suisse Ag, a Switzerland-based fund reported 62,585 shares. Price T Rowe Assoc Md has 4.11 million shares for 0.01% of their US portfolio. Nomura last reported 12,694 shares in the company. Granite Invest Prns Ltd Liability Corporation last reported 0.1% of its portfolio in the stock. State Common Retirement Fund has 33,100 shares for 0% of their US portfolio. Menta Ltd Limited Liability Company reported 35,221 shares or 0.06% of all its holdings. Northern Trust last reported 0% of its portfolio in the stock.
Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 19 selling transactions for $1.34 million net activity. $78,363 worth of shares were sold by Huss Christopher S on Wednesday, July 27. 5,441 CoBiz Financial Inc (NASDAQ:COBZ) shares with value of $83,247 were sold by Page Scott. BANGERT STEVEN also sold $116,730 worth of CoBiz Financial Inc (NASDAQ:COBZ) on Tuesday, August 30. On Thursday, November 10 BURGAMY MICHAEL B sold $296,000 worth of the stock or 20,000 shares. OSTERTAG ROBERT sold $68,106 worth of stock or 5,195 shares. 600 shares were sold by DUMLAO TROY, worth $8,949. ANDRICH LYNE B had sold 2,000 shares worth $30,022.
The stock decreased 0.52% or $0.08 during the last trading session, hitting $15.43. About 171,228 shares traded hands or 95.25% up from the average. CoBiz Financial Inc (NASDAQ:COBZ) has risen 28.08% since April 21, 2016 and is uptrending. It has outperformed by 22.75% the S&P500.
CoBiz Financial Inc. is a financial holding company. The company has a market cap of $653.29 million. The Firm operates in three divisions: Commercial Banking, Fee-Based Lines, and Corporate Support and Other. It has a 20.96 P/E ratio. The Commercial Banking segment offers commercial, real estate and private banking, as well as treasury management, interest-rate hedging and depository products.
According to Zacks Investment Research, “CoBiz Inc. is a financial holding company headquartered in Denver. The company operates Colorado Business Bank and Arizona Business Bank, full-service commercial banking institutions that offer a broad range of sophisticated banking services including credit, treasury management, investment and deposit products to a targeted customer base of professionals and small to mid-sized businesses. CoBiz also offers trust and fiduciary services through CoBiz Private Asset Management; property and casualty insurance brokerage and risk management consulting services through CoBiz Insurance; investment banking services through Green Manning & Bunch; the management of stock and bond portfolios for individuals and institutions through Alexander Capital Management Group; and employee and executive benefits consulting and wealth transfer services through Financial Designs.”
Analysts await CoBiz Financial Inc (NASDAQ:COBZ) to report earnings on February, 10. They expect $0.20 earnings per share, up 81.82% or $0.09 from last year’s $0.11 per share. COBZ’s profit will be $8.47M for 19.29 P/E if the $0.20 EPS becomes a reality. After $0.25 actual earnings per share reported by CoBiz Financial Inc for the previous quarter, Wall Street now forecasts -20.00% negative EPS growth.
Another recent and important CoBiz Financial Inc (NASDAQ:COBZ) news was published by Streetinsider.com which published an article titled: “Form 4 COBIZ FINANCIAL INC For: Nov 23 Filed by: Rhinehart Mary K” on November 23, 2016.
CoBiz Financial Inc. (CoBiz), incorporated on February 19, 1980, is a financial holding company. The Firm operates in three divisions: Commercial Banking, Fee-Based Lines, and Corporate Support and Other. The Company’s Commercial Banking segment offers commercial, real estate and private banking, as well as treasury management, interest-rate hedging and depository products. The Company’s Fee-Based Lines segment offers employee benefits brokerage and consulting, insurance brokerage and wealth management services. The Company’s subsidiary CoBiz Bank (the Bank) is a full-service business banking institution serving approximately two markets, including Colorado and Arizona. In Colorado, the Bank operates under the name Colorado Business Bank and has over 10 locations, including approximately nine in the Denver metropolitan area, and others in Boulder, Colorado Springs, Fort Collins and Vail. In Arizona, the Bank operates under the name Arizona Business Bank and has over five locations serving the Phoenix metropolitan area and the surrounding area of Maricopa County.
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By Darrin Black