Goldman Sachs Group Inc. increased its position in CoBiz Financial Inc. (NASDAQ:COBZ) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,684,676 shares of the bank’s stock after buying an additional 127,945 shares during the period. Goldman Sachs Group Inc.’s holdings in CoBiz Financial were worth $28,303,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC raised its position in CoBiz Financial by 0.4% in the fourth quarter. United Capital Financial Advisers LLC now owns 14,826 shares of the bank’s stock worth $250,000 after buying an additional 66 shares during the period. Dalton Greiner Hartman Maher & Co. raised its position 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 period. Parametric Portfolio Associates LLC raised its position in CoBiz Financial by 4.1% in the first quarter. Parametric Portfolio Associates LLC now owns 12,887 shares of the bank’s stock worth $217,000 after buying an additional 504 shares during the period. NBW Capital LLC raised its position in CoBiz Financial by 0.9% in the first quarter. NBW Capital LLC now owns 136,440 shares of the bank’s stock worth $2,292,000 after buying an additional 1,158 shares during the period. Finally, American International Group Inc. raised its position in CoBiz Financial by 7.1% in the first quarter. American International Group Inc. now owns 22,906 shares of the bank’s stock worth $385,000 after buying an additional 1,517 shares during the period. 81.56% of the stock is currently owned by institutional investors.
CoBiz Financial Inc. (COBZ) opened at 17.27 on Monday. CoBiz Financial Inc. has a 52-week low of $11.80 and a 52-week high of $17.99. The stock’s 50 day moving average price is $16.28 and its 200 day moving average price is $16.77. The firm has a market capitalization of $713.56 million, a PE ratio of 20.08 and a beta of 1.20.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, April 27th. The bank reported $0.20 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.20. CoBiz Financial had a return on equity of 12.11% and a net margin of 21.98%. The business had revenue of $38.41 million during the quarter, compared to the consensus estimate of $40 million. Analysts expect that CoBiz Financial Inc. will post $0.88 earnings per share for the current year.
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A number of research firms have commented on COBZ. Zacks Investment Research downgraded CoBiz Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $19.00 price objective on shares of CoBiz Financial in a report on Wednesday, April 5th. Piper Jaffray Companies assumed coverage on CoBiz Financial in a report on Thursday, April 13th. They issued a “neutral” rating and a $18.50 price objective on the stock. Finally, ValuEngine upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $17.63.
In other news, insider Robert Ostertag sold 3,976 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $16.02, for a total transaction of $63,695.52. Following the completion of the transaction, the insider now directly owns 68,930 shares in the company, valued at $1,104,258.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher S. Huss sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $17.35, for a total value of $86,750.00. Following the transaction, the insider now owns 36,002 shares of the company’s stock, valued at $624,634.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,004 shares of company stock valued at $413,887. 9.90% of the stock is currently owned by insiders.
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.
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