Legal & General Group Plc lifted its holdings in CoBiz Financial Inc. (NASDAQ:COBZ) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,265 shares of the bank’s stock after buying an additional 371 shares during the period. Legal & General Group Plc’s holdings in CoBiz Financial were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Sit Investment Associates Inc. lifted its stake in shares of CoBiz Financial by 14.8% in the second quarter. Sit Investment Associates Inc. now owns 20,375 shares of the bank’s stock worth $355,000 after buying an additional 2,625 shares in the last quarter. Swiss National Bank lifted its stake in shares of CoBiz Financial by 4.8% in the first quarter. Swiss National Bank now owns 61,500 shares of the bank’s stock worth $1,033,000 after buying an additional 2,800 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of CoBiz Financial by 22.9% in the first quarter. Wellington Management Group LLP now owns 2,819,215 shares of the bank’s stock worth $47,363,000 after buying an additional 524,536 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of CoBiz Financial by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 157,980 shares of the bank’s stock worth $2,655,000 after buying an additional 8,667 shares in the last quarter. Finally, Legato Capital Management LLC lifted its stake in shares of CoBiz Financial by 890.1% in the second quarter. Legato Capital Management LLC now owns 40,545 shares of the bank’s stock worth $705,000 after buying an additional 36,450 shares in the last quarter. 82.93% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities analysts have recently weighed in on the stock. ValuEngine downgraded shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub downgraded shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research raised shares of CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, September 19th. Piper Jaffray Companies reissued a “hold” rating and issued a $19.50 price target on shares of CoBiz Financial in a research note on Wednesday, July 26th. Finally, DA Davidson reissued a “neutral” rating on shares of CoBiz Financial in a research note on Friday, July 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.13.

In other CoBiz Financial news, CEO Steven Bangert sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $17.62, for a total value of $140,960.00. Following the transaction, the chief executive officer now directly owns 1,016,242 shares in the company, valued at approximately $17,906,184.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Richard J. Dalton sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $17.80, for a total transaction of $178,000.00. Following the completion of the transaction, the chief operating officer now owns 84,082 shares in the company, valued at $1,496,659.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,543 shares of company stock worth $488,016. 9.90% of the stock is owned by insiders.

CoBiz Financial Inc. (COBZ) opened at 19.31 on Friday. CoBiz Financial Inc. has a 52 week low of $12.40 and a 52 week high of $19.82. The stock has a market capitalization of $798.68 million, a P/E ratio of 21.70 and a beta of 1.24. The firm’s 50-day moving average is $18.04 and its 200-day moving average is $17.09.

CoBiz Financial (NASDAQ:COBZ) last released its 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 analyst estimates of $39.88 million. CoBiz Financial had a net margin of 21.97% and a return on equity of 12.09%. On average, equities research analysts predict that CoBiz Financial Inc. will post $0.92 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for CoBiz Financial (NASDAQ:COBZ)

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