Insider Selling: CoBiz Financial Inc. (NASDAQ:COBZ) CEO Sells 8,000 Shares of Stock
CoBiz Financial Inc. (NASDAQ:COBZ) CEO Steven Bangert sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $17.62, for a total transaction of $140,960.00. Following the sale, the chief executive officer now owns 1,016,242 shares in the company, valued at approximately $17,906,184.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Steven Bangert also recently made the following trade(s):
- On Friday, June 2nd, Steven Bangert sold 10,000 shares of CoBiz Financial stock. The shares were sold at an average price of $16.41, for a total transaction of $164,100.00.
Shares of CoBiz Financial Inc. (NASDAQ COBZ) traded down 2.40% during trading on Thursday, reaching $17.09. 86,992 shares of the company were exchanged. The company has a market capitalization of $706.86 million, a price-to-earnings ratio of 19.20 and a beta of 1.20. CoBiz Financial Inc. has a 1-year low of $11.80 and a 1-year high of $18.85. The stock’s 50 day moving average is $17.27 and its 200 day moving average is $16.89.
CoBiz Financial (NASDAQ:COBZ) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The company had revenue of $40.32 million for the quarter, compared to the consensus estimate of $39.88 million. CoBiz Financial had a net margin of 21.97% and a return on equity of 12.09%. Equities analysts anticipate that CoBiz Financial Inc. will post $0.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were paid a dividend of $0.055 per share. This is an increase from CoBiz Financial’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, July 27th. This represents a $0.22 dividend on an annualized basis and a yield of 1.29%. CoBiz Financial’s dividend payout ratio is presently 24.72%.
ILLEGAL ACTIVITY NOTICE: “Insider Selling: CoBiz Financial Inc. (NASDAQ:COBZ) CEO Sells 8,000 Shares of Stock” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.watchlistnews.com/insider-selling-cobiz-financial-inc-nasdaqcobz-ceo-sells-8000-shares-of-stock/1469922.html.
Several analysts have recently weighed in on COBZ shares. BidaskClub upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of CoBiz Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. DA Davidson reiterated a “neutral” rating on shares of CoBiz Financial in a research report on Friday, July 21st. Finally, Piper Jaffray Companies initiated coverage on shares of CoBiz Financial in a research report on Thursday, April 13th. They issued a “neutral” rating and a $18.50 target price on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. CoBiz Financial presently has an average rating of “Buy” and a consensus price target of $19.13.
A number of large investors have recently added to or reduced their stakes in COBZ. State Street Corp increased its stake in CoBiz Financial by 4.1% in the fourth quarter. State Street Corp now owns 636,216 shares of the bank’s stock worth $10,744,000 after buying an additional 25,178 shares during the last quarter. Teachers Advisors LLC increased its stake in CoBiz Financial by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 86,010 shares of the bank’s stock worth $1,453,000 after buying an additional 11,022 shares during the last quarter. Macquarie Group Ltd. increased its stake in CoBiz Financial by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 899,766 shares of the bank’s stock worth $15,197,000 after buying an additional 62,869 shares during the last quarter. Legato Capital Management LLC increased its stake in CoBiz Financial by 1,580.0% in the first quarter. Legato Capital Management LLC now owns 68,796 shares of the bank’s stock worth $4,095,000 after buying an additional 64,701 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in CoBiz Financial by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 75,915 shares of the bank’s stock worth $1,275,000 after buying an additional 284 shares during the last quarter. 81.62% of the stock is currently owned by institutional investors.
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.
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 Analyst Ratings Network's FREE daily email newsletter.