CoBiz Financial Inc (COBZ) Stake Increased by Jupiter Asset Management Ltd.
Jupiter Asset Management Ltd. grew its position in CoBiz Financial Inc (NASDAQ:COBZ) by 529.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 244,777 shares of the bank’s stock after buying an additional 205,879 shares during the period. Jupiter Asset Management Ltd. owned 0.58% of CoBiz Financial worth $4,807,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its position in shares of CoBiz Financial by 4.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 12,887 shares of the bank’s stock valued at $217,000 after purchasing an additional 504 shares during the last quarter. Teachers Advisors LLC raised its position in shares of CoBiz Financial by 5.3% in the 1st quarter. Teachers Advisors LLC now owns 90,573 shares of the bank’s stock valued at $1,522,000 after purchasing an additional 4,563 shares during the last quarter. California Public Employees Retirement System raised its position in shares of CoBiz Financial by 4.4% in the 1st quarter. California Public Employees Retirement System now owns 88,500 shares of the bank’s stock valued at $1,487,000 after purchasing an additional 3,700 shares during the last quarter. Vanguard Group Inc. raised its position in shares of CoBiz Financial by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 1,668,392 shares of the bank’s stock valued at $28,030,000 after purchasing an additional 56,641 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of CoBiz Financial by 32.6% in the 1st quarter. Geode Capital Management LLC now owns 361,533 shares of the bank’s stock valued at $6,073,000 after purchasing an additional 88,870 shares during the last quarter. Institutional investors and hedge funds own 82.86% of the company’s stock.
Several brokerages recently commented on COBZ. ValuEngine raised shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, September 19th. Finally, BidaskClub lowered shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CoBiz Financial currently has an average rating of “Buy” and a consensus target price of $20.13.
In other CoBiz Financial news, insider Robert Ostertag sold 17,176 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $20.90, for a total transaction of $358,978.40. Following the completion of the transaction, the insider now directly owns 53,445 shares of the company’s stock, valued at approximately $1,117,000.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven Bangert sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $20.48, for a total transaction of $40,960.00. Following the transaction, the chief executive officer now directly owns 1,006,359 shares of the company’s stock, valued at $20,610,232.32. The disclosure for this sale can be found here. Insiders have sold a total of 52,205 shares of company stock valued at $1,086,023 over the last three months. 9.90% of the stock is currently owned by insiders.
CoBiz Financial Inc (COBZ) opened at $21.15 on Wednesday. CoBiz Financial Inc has a 1 year low of $15.10 and a 1 year high of $21.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $862.41, a P/E ratio of 22.44, a P/E/G ratio of 2.11 and a beta of 1.27.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. CoBiz Financial had a net margin of 21.95% and a return on equity of 12.06%. The company had revenue of $42.76 million during the quarter, compared to analyst estimates of $41.13 million. research analysts anticipate that CoBiz Financial Inc will post 0.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 30th were given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, October 27th. CoBiz Financial’s dividend payout ratio is presently 24.18%.
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CoBiz Financial Company Profile
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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