PDT Partners LLC acquired a new position in CoBiz Financial Inc. (NASDAQ:COBZ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,600 shares of the bank’s stock, valued at approximately $585,000. PDT Partners LLC owned 0.08% of CoBiz Financial as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Voya Investment Management LLC raised its position in CoBiz Financial by 6.3% in the second quarter. Voya Investment Management LLC now owns 28,708 shares of the bank’s stock worth $500,000 after acquiring an additional 1,698 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in CoBiz Financial by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,908,216 shares of the bank’s stock worth $33,203,000 after buying an additional 57,691 shares during the period. Citadel Advisors LLC raised its holdings in CoBiz Financial by 137.6% during the 2nd quarter. Citadel Advisors LLC now owns 61,764 shares of the bank’s stock worth $1,075,000 after buying an additional 35,764 shares during the period. Parametric Portfolio Associates LLC raised its holdings in CoBiz Financial by 16.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 14,992 shares of the bank’s stock worth $261,000 after buying an additional 2,105 shares during the period. Finally, California Public Employees Retirement System raised its holdings in CoBiz Financial by 4.2% during the 2nd quarter. California Public Employees Retirement System now owns 92,200 shares of the bank’s stock worth $1,604,000 after buying an additional 3,700 shares during the period. Hedge funds and other institutional investors own 82.93% of the company’s stock.
In other CoBiz Financial news, CEO Steven Bangert sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $17.62, for a total transaction of $140,960.00. Following the sale, the chief executive officer now owns 1,016,242 shares in the company, valued at $17,906,184.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Page sold 8,057 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $17.68, for a total value of $142,447.76. Following the sale, the chief executive officer now owns 65,774 shares in the company, valued at approximately $1,162,884.32. The disclosure for this sale can be found here. Insiders sold 27,543 shares of company stock worth $488,016 in the last quarter. 9.90% of the stock is currently owned by company insiders.
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Several equities analysts have weighed in on COBZ shares. BidaskClub raised CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. ValuEngine raised CoBiz Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised CoBiz Financial from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, September 5th. DA Davidson reissued a “neutral” rating on shares of CoBiz Financial in a research note on Friday, July 21st. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $19.50 price target on shares of CoBiz Financial in a research note on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $19.13.
CoBiz Financial Inc. (NASDAQ:COBZ) opened at 19.51 on Tuesday. CoBiz Financial Inc. has a 52 week low of $12.40 and a 52 week high of $19.82. The firm has a market capitalization of $806.95 million, a price-to-earnings ratio of 21.92 and a beta of 1.24. The company has a 50 day moving average price of $18.04 and a 200-day moving average price of $17.10.
CoBiz Financial (NASDAQ:COBZ) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $40.32 million during the quarter, compared to analyst estimates of $39.88 million. Equities analysts predict that CoBiz Financial Inc. will post $0.92 earnings per share for the current year.
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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