Nuance Investments LLC lifted its holdings in shares of CoBiz Financial Inc (NASDAQ:COBZ) by 15.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 272,229 shares of the bank’s stock after purchasing an additional 37,408 shares during the period. Nuance Investments LLC’s holdings in CoBiz Financial were worth $6,041,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. ARP Americas LP acquired a new stake in shares of CoBiz Financial in the second quarter worth $2,489,000. First Trust Advisors LP boosted its position in CoBiz Financial by 19.9% during the second quarter. First Trust Advisors LP now owns 103,096 shares of the bank’s stock valued at $2,215,000 after purchasing an additional 17,121 shares during the last quarter. Victory Capital Management Inc. boosted its position in CoBiz Financial by 19.5% during the second quarter. Victory Capital Management Inc. now owns 1,560,396 shares of the bank’s stock valued at $33,517,000 after purchasing an additional 254,478 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in CoBiz Financial during the second quarter valued at $1,120,000. Finally, Kellner Capital LLC acquired a new stake in CoBiz Financial during the second quarter valued at $1,974,000. 78.87% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on COBZ shares. Zacks Investment Research raised CoBiz Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 31st. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Piper Jaffray Companies reissued a “hold” rating and set a $23.00 price objective on shares of CoBiz Financial in a research report on Friday, August 10th. BidaskClub cut CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Keefe, Bruyette & Woods cut CoBiz Financial from an “outperform” rating to a “market perform” rating and set a $24.50 price target for the company. in a research report on Friday, July 27th. Eight analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $20.94.
CoBiz Financial Profile
CoBiz Financial Inc, a diversified financial services company, provides various financial products and services in the United States. It operates through Commercial Banking and Fee-Based Lines segments. The Commercial Banking segment offers commercial, real estate, and private banking services, as well as treasury management, interest-rate hedging, and depository products.
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