Steven Bangert Sells 2,000 Shares of CoBiz Financial Inc. (COBZ) Stock
CoBiz Financial Inc. (NASDAQ:COBZ) CEO Steven Bangert sold 2,000 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $20.48, for a total value of $40,960.00. Following the completion of the transaction, the chief executive officer now directly owns 1,006,359 shares in the company, valued at $20,610,232.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Steven Bangert also recently made the following trade(s):
- On Monday, November 6th, Steven Bangert sold 2,883 shares of CoBiz Financial stock. The stock was sold at an average price of $20.45, for a total value of $58,957.35.
- On Wednesday, October 25th, Steven Bangert sold 5,000 shares of CoBiz Financial stock. The stock was sold at an average price of $20.80, for a total value of $104,000.00.
CoBiz Financial Inc. (NASDAQ:COBZ) traded up $0.26 during trading hours on Monday, reaching $20.74. The company’s stock had a trading volume of 57,879 shares, compared to its average volume of 106,875. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $871.70, a PE ratio of 22.50, a PEG ratio of 2.12 and a beta of 1.26. CoBiz Financial Inc. has a twelve month low of $14.42 and a twelve month high of $21.35.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. The business had revenue of $42.76 million for the quarter, compared to analysts’ expectations of $41.13 million. CoBiz Financial had a return on equity of 12.06% and a net margin of 21.95%. research analysts forecast that CoBiz Financial Inc. will post 0.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 30th were issued a dividend of $0.055 per share. The ex-dividend date was Friday, October 27th. This represents a $0.22 dividend on an annualized basis and a yield of 1.06%. CoBiz Financial’s dividend payout ratio is presently 24.44%.
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A number of large investors have recently bought and sold shares of COBZ. Janus Henderson Group PLC bought a new stake in CoBiz Financial during the second quarter valued at about $19,512,000. Victory Capital Management Inc. bought a new stake in shares of CoBiz Financial in the third quarter worth about $9,550,000. Jupiter Asset Management Ltd. increased its holdings in shares of CoBiz Financial by 529.3% in the third quarter. Jupiter Asset Management Ltd. now owns 244,777 shares of the bank’s stock worth $4,807,000 after purchasing an additional 205,879 shares during the last quarter. Hartford Investment Management Co. bought a new stake in shares of CoBiz Financial in the second quarter worth about $3,035,000. Finally, Macquarie Group Ltd. increased its holdings in shares of CoBiz Financial by 13.9% in the third quarter. Macquarie Group Ltd. now owns 1,306,780 shares of the bank’s stock worth $25,665,000 after purchasing an additional 159,512 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.
COBZ has been the topic of a number of recent research reports. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, July 26th. BidaskClub raised CoBiz Financial from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $19.50 price target on shares of CoBiz Financial in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $20.13.
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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