$0.27 Earnings Per Share Expected for CoBiz Financial Inc (COBZ) This Quarter
Equities analysts expect CoBiz Financial Inc (NASDAQ:COBZ) to announce earnings per share (EPS) of $0.27 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for CoBiz Financial’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.26. CoBiz Financial posted earnings per share of $0.21 in the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The firm is expected to issue its next earnings report on Thursday, January 25th.
According to Zacks, analysts expect that CoBiz Financial will report full-year earnings of $0.97 per share for the current fiscal year, with EPS estimates ranging from $0.96 to $0.97. For the next year, analysts expect that the business will report earnings of $1.15 per share, with EPS estimates ranging from $1.08 to $1.20. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for CoBiz Financial.
CoBiz Financial (NASDAQ:COBZ) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $42.76 million during the quarter, compared to analysts’ expectations of $41.13 million. CoBiz Financial had a net margin of 21.95% and a return on equity of 12.06%.
COBZ has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.00 target price on shares of CoBiz Financial in a research note on Friday. BidaskClub cut shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, ValuEngine cut shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $21.38.
In other news, insider Christopher S. Huss sold 5,000 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $20.85, for a total value of $104,250.00. Following the completion of the transaction, the insider now owns 31,002 shares of the company’s stock, valued at approximately $646,391.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Page sold 5,307 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $20.84, for a total transaction of $110,597.88. Following the completion of the transaction, the chief executive officer now directly owns 60,239 shares of the company’s stock, valued at approximately $1,255,380.76. The disclosure for this sale can be found here. Insiders sold a total of 52,205 shares of company stock valued at $1,086,023 in the last 90 days. 9.90% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BSW Wealth Partners lifted its position in CoBiz Financial by 0.3% in the 2nd quarter. BSW Wealth Partners now owns 14,399 shares of the bank’s stock valued at $251,000 after acquiring an additional 43 shares in the last quarter. Rhumbline Advisers lifted its position in CoBiz Financial by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 47,779 shares of the bank’s stock valued at $831,000 after acquiring an additional 265 shares in the last quarter. Legal & General Group Plc lifted its position in CoBiz Financial by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 9,265 shares of the bank’s stock valued at $160,000 after acquiring an additional 371 shares in the last quarter. Martin & Co. Inc. TN lifted its position in CoBiz Financial by 0.6% in the 2nd quarter. Martin & Co. Inc. TN now owns 70,424 shares of the bank’s stock valued at $1,225,000 after acquiring an additional 415 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in CoBiz Financial by 6.3% during the 2nd quarter. Voya Investment Management LLC now owns 28,708 shares of the bank’s stock worth $500,000 after buying an additional 1,698 shares in the last quarter. 82.89% of the stock is currently owned by institutional investors and hedge funds.
CoBiz Financial (NASDAQ:COBZ) opened at $20.53 on Monday. The company has a market cap of $875.92, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.15 and a beta of 1.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. CoBiz Financial has a one year low of $15.39 and a one year high of $22.01.
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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