News articles about CoBiz Financial (NASDAQ:COBZ) have been trending somewhat positive recently, according to AlphaOne. The research firm, a division of Accern, identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real time. AlphaOne ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. CoBiz Financial earned a media sentiment score of 0.20 on AlphaOne’s scale. AlphaOne also assigned media headlines about the bank an impact score of 44 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Alpha One’s rankings:
Shares of CoBiz Financial (NASDAQ COBZ) opened at 16.95 on Friday. The stock has a 50 day moving average price of $16.39 and a 200-day moving average price of $16.67. The firm has a market capitalization of $700.34 million, a price-to-earnings ratio of 19.71 and a beta of 1.24. CoBiz Financial has a 52 week low of $10.86 and a 52 week high of $17.99.
CoBiz Financial (NASDAQ:COBZ) last issued its earnings results on Thursday, April 27th. The bank reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $38.41 million during the quarter, compared to analysts’ expectations of $40 million. CoBiz Financial had a return on equity of 12.18% and a net margin of 21.55%. On average, equities research analysts forecast that CoBiz Financial will post $0.87 earnings per share for the current year.
Several brokerages have commented on COBZ. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $19.00 price target on shares of CoBiz Financial in a report on Wednesday, April 5th. Hovde Group raised CoBiz Financial from a “market perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Friday, March 10th. Zacks Investment Research cut CoBiz Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Finally, Piper Jaffray Companies assumed coverage on CoBiz Financial in a research report on Thursday, April 13th. They issued a “neutral” rating and a $18.50 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $17.63.
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In other CoBiz Financial news, insider Robert Ostertag sold 3,976 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $16.02, for a total value of $63,695.52. Following the transaction, the insider now owns 68,930 shares in the company, valued at $1,104,258.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven Bangert sold 10,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $16.41, for a total value of $164,100.00. Following the completion of the transaction, the chief executive officer now owns 1,024,242 shares in the company, valued at approximately $16,807,811.22. The disclosure for this sale can be found here. Insiders have sold 39,744 shares of company stock valued at $662,610 in the last ninety days. 11.38% of the stock is currently owned by insiders.
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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