The CoBiz Financial Inc. (COBZ) SVP Troy Dumlao Sells 500 Shares

The CoBiz Financial Inc. (COBZ) SVP Troy Dumlao Sells 500 Shares

CoBiz Financial Inc. (NASDAQ:COBZ) SVP Troy Dumlao sold 500 shares of CoBiz Financial stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $20.81, for a total transaction of $10,405.00. Following the sale, the senior vice president now owns 16,897 shares of the company’s stock, valued at $351,626.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of CoBiz Financial Inc. (NASDAQ COBZ) traded up 1.45% during midday trading on Wednesday, hitting $20.99. 151,209 shares of the stock were exchanged. The firm has a market cap of $868.17 million, a PE ratio of 23.58 and a beta of 1.24. The firm’s 50-day moving average is $18.55 and its 200 day moving average is $17.27. CoBiz Financial Inc. has a 52-week low of $12.40 and a 52-week high of $21.25.

CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $42.76 million during the quarter, compared to analyst estimates of $41.13 million. CoBiz Financial had a net margin of 21.95% and a return on equity of 12.24%. On average, analysts forecast that CoBiz Financial Inc. will post $0.96 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 30th will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, October 27th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.05%. CoBiz Financial’s dividend payout ratio is currently 24.18%.

Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of CoBiz Financial from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research report on Tuesday. BidaskClub lowered shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Piper Jaffray Companies reiterated a “hold” rating and set a $19.50 target price on shares of CoBiz Financial in a research report on Wednesday, July 26th. Finally, DA Davidson reiterated a “neutral” rating on shares of CoBiz Financial in a research report on Friday, July 21st. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $20.13.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of CoBiz Financial by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,908,216 shares of the bank’s stock valued at $33,203,000 after acquiring an additional 57,691 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of CoBiz Financial by 8.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,821,143 shares of the bank’s stock valued at $31,688,000 after acquiring an additional 136,467 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of CoBiz Financial by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,703,546 shares of the bank’s stock valued at $29,642,000 after acquiring an additional 35,154 shares during the last quarter. FMR LLC boosted its position in shares of CoBiz Financial by 2.4% during the 2nd quarter. FMR LLC now owns 1,509,947 shares of the bank’s stock valued at $26,273,000 after acquiring an additional 35,735 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of CoBiz Financial by 10.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,147,268 shares of the bank’s stock valued at $19,962,000 after acquiring an additional 108,361 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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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