CoBiz Financial (COBZ) Earning Somewhat Positive News Coverage, Analysis Finds
News headlines about CoBiz Financial (NASDAQ:COBZ) have been trending somewhat positive recently, Accern reports. The research firm rates the sentiment of press coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. CoBiz Financial earned a coverage optimism score of 0.11 on Accern’s scale. Accern also gave news stories about the bank an impact score of 46.5768633918674 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news stories that may have impacted Accern’s rankings:
- $41.13 Million in Sales Expected for CoBiz Financial Inc. (COBZ) This Quarter (americanbankingnews.com)
- CoBiz Financial Inc. (COBZ) Given Consensus Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- CoBiz Financial, Inc. – Value Analysis (NASDAQ:COBZ) : September 19, 2017 (finance.yahoo.com)
- CoBiz Financial, Inc. breached its 50 day moving average in a Bullish Manner : COBZ-US : September 18, 2017 (finance.yahoo.com)
- CoBiz Financial Inc. (COBZ) Raised to Buy at Zacks Investment Research (americanbankingnews.com)
CoBiz Financial (NASDAQ:COBZ) opened at 18.27 on Friday. CoBiz Financial has a 1-year low of $12.40 and a 1-year high of $18.85. The company has a 50 day moving average of $17.12 and a 200 day moving average of $16.79. The company has a market capitalization of $755.67 million, a PE ratio of 20.53 and a beta of 1.20.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. CoBiz Financial had a return on equity of 12.09% and a net margin of 21.97%. The business had revenue of $40.32 million during the quarter, compared to the consensus estimate of $39.88 million. On average, analysts predict that CoBiz Financial will post $0.92 earnings per share for the current fiscal year.
Several analysts have commented on the stock. Piper Jaffray Companies restated a “hold” rating and set a $19.50 target price on shares of CoBiz Financial in a report on Wednesday, July 26th. BidaskClub raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, September 5th. ValuEngine raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, DA Davidson reaffirmed a “neutral” rating on shares of CoBiz Financial in a research note on Friday, July 21st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CoBiz Financial currently has a consensus rating of “Buy” and a consensus target price of $19.13.
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In other CoBiz Financial news, CEO Scott Page sold 8,057 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $17.68, for a total value of $142,447.76. Following the completion of the transaction, the chief executive officer now owns 65,774 shares in the company, valued at approximately $1,162,884.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Richard J. Dalton sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $17.80, for a total value of $178,000.00. Following the completion of the transaction, the chief operating officer now owns 84,082 shares of the company’s stock, valued at approximately $1,496,659.60. The disclosure for this sale can be found here. Insiders have sold 27,543 shares of company stock valued at $488,016 in the last quarter. 9.90% of the stock is currently owned by corporate insiders.
About CoBiz Financial
CoBiz Financial Inc is a financial holding company. The Company provides a range of banking and related services through its subsidiaries, CoBiz Bank (Bank), CoBiz Insurance, Inc and CoBiz IM, Inc (CoBiz IM). The Company’s segments include Commercial Banking, Fee-Based Lines, and Corporate Support and Other.
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