Thrivent Financial For Lutherans cut its position in CoBiz Financial Inc (NASDAQ:COBZ) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,221,261 shares of the bank’s stock after selling 26,602 shares during the period. Thrivent Financial For Lutherans owned about 2.96% of CoBiz Financial worth $20,517,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in COBZ. Dalton Greiner Hartman Maher & Co. raised its stake in shares of CoBiz Financial by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 75,915 shares of the bank’s stock valued at $1,275,000 after buying an additional 284 shares during the period. Legato Capital Management LLC raised its stake in shares of CoBiz Financial by 1,580.0% in the first quarter. Legato Capital Management LLC now owns 68,796 shares of the bank’s stock valued at $4,095,000 after buying an additional 64,701 shares during the period. Macquarie Group Ltd. raised its stake in shares of CoBiz Financial by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 899,766 shares of the bank’s stock valued at $15,197,000 after buying an additional 62,869 shares during the period. Teachers Advisors LLC raised its stake in shares of CoBiz Financial by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 86,010 shares of the bank’s stock valued at $1,453,000 after buying an additional 11,022 shares during the period. Finally, United Capital Financial Advisers LLC raised its stake in shares of CoBiz Financial by 0.4% in the fourth quarter. United Capital Financial Advisers LLC now owns 14,826 shares of the bank’s stock valued at $250,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 81.11% of the company’s stock.
Shares of CoBiz Financial Inc (NASDAQ COBZ) traded up 3.79% during midday trading on Thursday, reaching $16.72. 59,644 shares of the company traded hands. The firm has a market capitalization of $690.84 million, a PE ratio of 19.44 and a beta of 1.24. CoBiz Financial Inc has a 1-year low of $10.86 and a 1-year high of $17.99. The stock has a 50 day moving average price of $16.38 and a 200 day moving average price of $16.66.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings data on Thursday, April 27th. The bank reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. The company had revenue of $38.41 million for the quarter, compared to analyst estimates of $40 million. CoBiz Financial had a return on equity of 12.18% and a net margin of 21.55%. Analysts expect that CoBiz Financial Inc will post $0.87 earnings per share for the current fiscal year.
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Several brokerages have weighed in on COBZ. Zacks Investment Research downgraded shares of CoBiz Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 29th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $19.00 price target on shares of CoBiz Financial in a report on Wednesday, April 5th. Piper Jaffray Companies began coverage on shares of CoBiz Financial in a report on Thursday, April 13th. They set a “neutral” rating and a $18.50 price target on the stock. Finally, Hovde Group raised shares of CoBiz Financial from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a report on Friday, March 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. CoBiz Financial has an average rating of “Hold” and an average price target of $17.63.
In other CoBiz Financial news, CEO Steven Bangert sold 7,500 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $17.00, for a total value of $127,500.00. Following the transaction, the chief executive officer now owns 1,146,928 shares in the company, valued at approximately $19,497,776. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Ostertag sold 3,976 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $16.02, for a total value of $63,695.52. Following the completion of the transaction, the insider now owns 68,930 shares in the company, valued at approximately $1,104,258.60. The disclosure for this sale can be found here. Insiders sold a total of 39,744 shares of company stock worth $662,610 in the last 90 days. 11.38% 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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