Steven Bangert Sells 3,776 Shares of CoBiz Financial Inc. (COBZ) Stock
CoBiz Financial Inc. (NASDAQ:COBZ) CEO Steven Bangert sold 3,776 shares of CoBiz Financial stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $15.27, for a total value of $57,659.52. Following the completion of the transaction, the chief executive officer now owns 1,142,491 shares of the company’s stock, valued at approximately $17,445,837.57. The sale was disclosed in a document filed with the SEC, which is available at this link.
Steven Bangert also recently made the following trade(s):
- On Tuesday, August 30th, Steven Bangert sold 9,000 shares of CoBiz Financial stock. The stock was sold at an average price of $12.97, for a total value of $116,730.00.
CoBiz Financial Inc. (NASDAQ:COBZ) opened at 15.22 on Wednesday. CoBiz Financial Inc. has a 52-week low of $10.31 and a 52-week high of $15.68. The company’s 50-day moving average price is $13.73 and its 200-day moving average price is $12.85. The firm has a market cap of $623.96 million, a price-to-earnings ratio of 20.88 and a beta of 1.14.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. CoBiz Financial had a return on equity of 10.79% and a net margin of 19.24%. The business earned $38.69 million during the quarter, compared to analysts’ expectations of $39.01 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. Analysts predict that CoBiz Financial Inc. will post $0.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Investors of record on Monday, October 31st were given a dividend of $0.05 per share. The ex-dividend date was Thursday, October 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.31%. CoBiz Financial’s dividend payout ratio is presently 26.67%.
A number of research analysts recently issued reports on the company. Macquarie lowered CoBiz Financial from an “outperform” rating to a “neutral” rating in a research report on Monday, October 24th. Zacks Investment Research upgraded CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research report on Monday, October 24th. Two investment 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. The stock presently has an average rating of “Buy” and an average target price of $13.67.
Institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in CoBiz Financial during the second quarter valued at $6,061,000. Perkins Investment Management LLC boosted its position in CoBiz Financial by 22.9% in the third quarter. Perkins Investment Management LLC now owns 1,061,297 shares of the company’s stock valued at $14,126,000 after buying an additional 197,580 shares in the last quarter. Vanguard Group Inc. boosted its position in CoBiz Financial by 13.1% in the second quarter. Vanguard Group Inc. now owns 1,574,047 shares of the company’s stock valued at $18,416,000 after buying an additional 182,395 shares in the last quarter. Macquarie Group Ltd. boosted its position in CoBiz Financial by 27.5% in the second quarter. Macquarie Group Ltd. now owns 798,606 shares of the company’s stock valued at $9,344,000 after buying an additional 172,005 shares during the period. Finally, RMB Capital Management LLC purchased a new position in CoBiz Financial during the third quarter valued at approximately $1,331,000. 79.77% of the stock is owned by institutional investors and hedge funds.
About CoBiz Financial
CoBiz Financial Inc (CoBiz) is a financial holding company. The Company operates in three segments: Commercial Banking, Fee-Based Lines, and Corporate Support and Other. The Commercial Banking segment offers commercial, real estate and private banking, as well as treasury management, interest-rate hedging and depository products.
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