November 24, 2016 - By Nellie Frank
Cobiz Financial Inc’s director Mary White made a sale of 1,000 shares of the Colorado-based company in a stock market deal dated 23-11-2016. The shares were unloaded at the avg market share price which was $15.2, for an aggregate transaction of $15,202. A filing freely available for public review here reveals this insider activity, that was conducted on 23-11-2016 and was filed with the (SEC). Now, Mary White owns 5,976 shares which are equivalent to about 0.01% of the Company’s total market capitalization.
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 company was upgraded on Monday, August 17 by Zacks. The firm has “Neutral” rating given on Monday, October 24 by Macquarie Research. The stock of CoBiz Financial Inc (NASDAQ:COBZ) has “Market Perform” rating given on Monday, April 25 by Hovde Group. The stock has “Outperform” rating given by Macquarie Research on Monday, October 19. Zacks downgraded CoBiz Financial Inc (NASDAQ:COBZ) on Monday, August 31 to “Hold” rating. RBC Capital Markets maintained it with “Outperform” rating and $13 target price in Tuesday, February 16 report.
Insitutional Activity: The institutional sentiment increased to 1.81 in 2016 Q2. Its up 0.67, from 1.14 in 2016Q1. The ratio is positive, 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.
State Common Retirement Fund holds 33,100 shares or 0% of its portfolio. Swiss Bank owns 58,700 shares or 0% of their US portfolio. Fmr Limited Com holds 0% of its portfolio in CoBiz Financial Inc (NASDAQ:COBZ) for 1.34M shares. Blackrock Institutional Commerce Na accumulated 1.15M shares or 0% of the stock. Teachers Advisors Inc holds 0% of its portfolio in CoBiz Financial Inc (NASDAQ:COBZ) for 70,758 shares. Schwab Charles Invest Mgmt Incorporated, a California-based fund reported 134,460 shares. Amer Intll Grp Inc Inc accumulated 21,413 shares or 0% of the stock. Alliancebernstein L P accumulated 0% or 16,921 shares. Moreover, Thrivent Finance For Lutherans has 0.07% invested in CoBiz Financial Inc (NASDAQ:COBZ) for 1.23M shares. Mendon Cap Advsr Corp holds 0.12% of its portfolio in CoBiz Financial Inc (NASDAQ:COBZ) for 100,000 shares. Morgan Stanley last reported 6,432 shares in the company. Stifel Fin holds 0.01% or 237,065 shares in its portfolio. Panagora Asset accumulated 43,007 shares or 0% of the stock. Moreover, Royal Bancorp Of Canada has 0% invested in CoBiz Financial Inc (NASDAQ:COBZ) for 310,156 shares. Voya Mgmt Ltd Llc holds 0% or 27,010 shares in its portfolio.
Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 19 selling transactions for $1.34 million net activity. $8,949 worth of CoBiz Financial Inc (NASDAQ:COBZ) was sold by DUMLAO TROY. $49,034 worth of CoBiz Financial Inc (NASDAQ:COBZ) shares were sold by Pass David. 5,441 shares were sold by Page Scott, worth $83,247. The insider ANDRICH LYNE B sold $30,022. Shares for $68,106 were sold by OSTERTAG ROBERT. White Mary M sold $15,202 worth of stock. The insider Huss Christopher S sold $89,871.
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 EPS, 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 EPS 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 Nellie Frank