CoBiz Financial (COBZ) Announces Quarterly Earnings Results
CoBiz Financial (NASDAQ:COBZ) posted its earnings results on Thursday. The bank reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02, Fidelity Earnings reports. The business had revenue of $43.57 million for the quarter, compared to analysts’ expectations of $43.66 million. CoBiz Financial had a net margin of 18.58% and a return on equity of 12.44%.
Shares of NASDAQ:COBZ traded up $0.02 during trading on Friday, hitting $20.30. The company’s stock had a trading volume of 241,052 shares, compared to its average volume of 128,772. CoBiz Financial has a 12 month low of $15.39 and a 12 month high of $22.01. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $856.57, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.64 and a beta of 1.18.
Several equities analysts have issued reports on the stock. Sandler O’Neill set a $24.00 target price on shares of CoBiz Financial and gave the company a “buy” rating in a research note on Monday, January 29th. BidaskClub cut shares of CoBiz Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Piper Jaffray restated a “hold” rating on shares of CoBiz Financial in a research note on Tuesday, January 30th. ValuEngine upgraded shares of CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research cut shares of CoBiz Financial from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.38.
CoBiz Financial Company Profile
CoBiz Financial Inc, a diversified financial services company, provides various financial products and services in the United States. It operates through Commercial Banking and Fee-Based Lines segments. The Commercial Banking segment offers commercial, real estate, and private banking services, as well as treasury management, interest-rate hedging, and depository products.
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