CoBiz Financial Inc. (NASDAQ:COBZ) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $19.13.

Several equities research analysts have issued reports on COBZ shares. BidaskClub upgraded CoBiz Financial from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Wednesday, July 26th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $19.50 price objective on shares of CoBiz Financial in a research report on Wednesday, July 26th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of CoBiz Financial in a research report on Friday, July 21st.

Shares of CoBiz Financial (NASDAQ:COBZ) opened at 19.38 on Thursday. The firm’s 50-day moving average price is $18.21 and its 200-day moving average price is $17.15. CoBiz Financial has a 12 month low of $12.40 and a 12 month high of $19.82. The firm has a market capitalization of $801.58 million, a price-to-earnings ratio of 21.78 and a beta of 1.24.

CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. CoBiz Financial had a return on equity of 12.09% and a net margin of 21.97%. The company had revenue of $40.32 million during the quarter, compared to the consensus estimate of $39.88 million. On average, equities analysts anticipate that CoBiz Financial will post $0.92 earnings per share for the current year.

In related news, COO Richard J. Dalton sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.80, for a total transaction of $178,000.00. Following the completion of the transaction, the chief operating officer now directly owns 84,082 shares of the company’s stock, valued at $1,496,659.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven Bangert sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $17.62, for a total value of $140,960.00. Following the transaction, the chief executive officer now directly owns 1,016,242 shares of the company’s stock, valued at $17,906,184.04. The disclosure for this sale can be found here. Insiders have sold 27,543 shares of company stock valued at $488,016 over the last ninety days. 9.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Martin & Co. Inc. TN boosted its position in CoBiz Financial by 0.6% during the second quarter. Martin & Co. Inc. TN now owns 70,424 shares of the bank’s stock valued at $1,225,000 after purchasing an additional 415 shares during the last quarter. State Street Corp boosted its position in CoBiz Financial by 7.0% during the second quarter. State Street Corp now owns 703,050 shares of the bank’s stock valued at $12,233,000 after purchasing an additional 46,139 shares during the last quarter. Janus Henderson Group PLC acquired a new position in CoBiz Financial during the second quarter valued at approximately $19,512,000. Macquarie Group Ltd. boosted its position in CoBiz Financial by 10.4% during the second quarter. Macquarie Group Ltd. now owns 1,147,268 shares of the bank’s stock valued at $19,962,000 after purchasing an additional 108,361 shares during the last quarter. Finally, Broadview Advisors LLC boosted its position in CoBiz Financial by 0.8% during the second quarter. Broadview Advisors LLC now owns 1,058,118 shares of the bank’s stock valued at $18,411,000 after purchasing an additional 8,350 shares during the last quarter. 82.93% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for CoBiz Financial (NASDAQ:COBZ)

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