CoBiz Financial Inc. (NASDAQ:COBZ) – Analysts at Piper Jaffray decreased their Q2 2018 earnings per share (EPS) estimates for CoBiz Financial in a research report issued on Wednesday, May 2nd. Piper Jaffray analyst B. Rabatin now anticipates that the bank will post earnings per share of $0.30 for the quarter, down from their prior estimate of $0.31. Piper Jaffray currently has a “Hold” rating on the stock. Piper Jaffray also issued estimates for CoBiz Financial’s Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.33 EPS, FY2018 earnings at $1.25 EPS, Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.37 EPS and FY2019 earnings at $1.39 EPS.
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CoBiz Financial (NASDAQ:COBZ) last issued its quarterly earnings results on Thursday, April 26th. The bank reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The company had revenue of $43.57 million for the quarter, compared to the consensus estimate of $43.66 million. CoBiz Financial had a return on equity of 13.50% and a net margin of 20.43%.
Several other brokerages also recently commented on COBZ. BidaskClub raised CoBiz Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Sandler O’Neill set a $24.00 price target on CoBiz Financial and gave the stock a “buy” rating in a research report on Monday, January 29th. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.38.
Shares of NASDAQ COBZ opened at $20.07 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $860.03, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. CoBiz Financial has a 12 month low of $15.39 and a 12 month high of $22.01.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 14th. Stockholders of record on Monday, May 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 4th. This is a boost from CoBiz Financial’s previous quarterly dividend of $0.06. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.99%. CoBiz Financial’s payout ratio is currently 23.16%.
In other news, CEO Steven Bangert sold 3,941 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $19.90, for a total transaction of $78,425.90. Following the sale, the chief executive officer now directly owns 1,022,724 shares in the company, valued at $20,352,207.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard J. Dalton sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $19.90, for a total value of $199,000.00. Following the sale, the executive vice president now owns 73,259 shares in the company, valued at $1,457,854.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,691 shares of company stock worth $352,013. 9.47% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Simplex Trading LLC bought a new stake in CoBiz Financial in the fourth quarter valued at $116,000. GSA Capital Partners LLP bought a new stake in CoBiz Financial in the third quarter valued at $206,000. Teacher Retirement System of Texas bought a new stake in CoBiz Financial in the fourth quarter valued at $258,000. C M Bidwell & Associates Ltd. bought a new stake in CoBiz Financial in the fourth quarter valued at $277,000. Finally, Stone Ridge Asset Management LLC bought a new stake in CoBiz Financial in the fourth quarter valued at $293,000. Hedge funds and other institutional investors own 82.73% of the company’s stock.
CoBiz Financial Company 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.