It is currently trading at $20.44 marginally over the 50 day moving average which is $19.13 and significantly higher than the 200 day moving average of $17.42. The 50 day moving average went up by +6.86% and the 200 day average was up $3.02. CoBiz Financial Inc. shares had a trading volume of 143K in the last trading session. Trading volume was down 21.34% under the stocks average daily volume.
Investors are a little more bullish of late at least if you consider the change in short interest. The stock saw a fall in short interest of -9.60% as of October 13, 2017 from the last reporting period. Short shares fell 108,850 over that timeframe. With short interest at 1,025,551 and short average daily volume at 171,638, the short-interest ratio is 6.0 and the percentage of shorted shares was 0.02% on October 13.
Here is a rundown on some insider market activity for CoBiz Financial Inc. (NASDAQ:COBZ). Robert Ostertag, Chief Credit Officer sold $358,978 worth of shares at an average price of $20.90 on Fri the 27th. That brings Ostertag’s holdings to $1,117,001 as recorded in a recent Form 4 SEC filing. EVP Lyne B. Andrich let go of 2,335 shares at an average price of $20.99 on Fri the 27th. The EVP now owns $2,122,551 of the stock as reported to the SEC.
Steven Bangert, Chairman let go of $104,000 worth of shares at an average price of $20.80 on October 25th. That brings the Chairman’s holdings to $21,033,834 per an SEC filing yesterday.
The following firms have recently changed their position in COBZ. As of quarter end Nationwide Fund Advisors had sold a total of 789 shares trimming its position 3.6%. The value of the investment in COBZ increased from $380,000 to $414,000 a change of $34,000 quarter to quarter. As of the end of the quarter First Trust Advisors Lp had disposed of 12,048 shares trimming its stake by 12.7%. The value of the company’s investment in CoBiz Financial Inc. went from $1,654,000 to $1,631,000 a change of 1.4% for the reporting period.
As of the end of the quarter Aperio Group, LLC had bought a total of 53 shares growing its holdings by 0.5%. The value of the investment in (COBZ) increased from $180,000 to $204,000 increasing 13.3% since the last quarter. Sippican Capital Advisors cut its position by selling 1,000 shares a decrease of 1.9%. Sippican Capital Advisors controls 52,100 shares valued at $1,023,000. The value of the position overall is up by 10.7%.
In the market the company is trading up from yesterday’s close of $20.44. Additionally the company recently declared a dividend to be paid on Monday the 6th of November 2017. The dividend will be $0.055 per share for the quarter or $0.22 on an annualized basis. This dividend represents a yield of $1.05. The ex-dividend date has been established as Friday the 27th of October 2017.
CoBiz Financial Inc. currently has a P/E ratio of 22.97 and the market cap is 845.42M. As of the latest earnings report the EPS was $0.89 and is estimated to be $0.97 for the current year with 41,361,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $0.27 and the next full year EPS is anticipated to be $1.16.
CoBiz Financial Inc., launched on February 19, 1980, 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 Business’s segments include Commercial Banking, Fee-Based Lines, and Corporate Support and Other. The Business’s Commercial Banking segment consists of the operations of the Bank, a full-service business banking institution that offers commercial, real estate and private banking, as well as treasury management, interest-rate hedging and depository products. The Business’s Fee-Based Lines segment consists of the operations of CoBiz Wealth, LLC and CoBiz Insurance, Inc. CoBiz Wealth, LLC provides investment management advisory services to individuals, families and businesses. CoBiz Insurance, Inc. offers property and casualty (P&C) and employee benefit group insurance (EB) broker agency to small to mid-sized employers, commercial enterprises and individual lines to their owners..