Milestone Group Lowers stake in CoBiz Financial Inc (COBZ)

CoBiz Financial Inc (COBZ) : Milestone Group reduced its stake in CoBiz Financial Inc by 3.26% during the most recent quarter end. The investment management company now holds a total of 25,937 shares of CoBiz Financial Inc which is valued at $315,653 after selling 874 shares in CoBiz Financial Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.CoBiz Financial Inc makes up approximately 0.05% of Milestone Group’s portfolio.

Other Hedge Funds, Including , Penn Capital Management Co Inc boosted its stake in COBZ in the latest quarter, The investment management firm added 92,690 additional shares and now holds a total of 761,793 shares of CoBiz Financial Inc which is valued at $9.3 Million. CoBiz Financial Inc makes up approx 0.53% of Penn Capital Management Co Inc’s portfolio.Menta Capital reduced its stake in COBZ by selling 2,500 shares or 6.63% in the most recent quarter. The Hedge Fund company now holds 35,221 shares of COBZ which is valued at $428,640. CoBiz Financial Inc makes up approx 0.06% of Menta Capital’s portfolio.First Trust Advisors Lp reduced its stake in COBZ by selling 10,865 shares or 15.44% in the most recent quarter. The Hedge Fund company now holds 59,494 shares of COBZ which is valued at $724,042.Heartland Advisors Inc reduced its stake in COBZ by selling 432,896 shares or 46.4% in the most recent quarter. The Hedge Fund company now holds 500,000 shares of COBZ which is valued at $5.9 Million. CoBiz Financial Inc makes up approx 0.31% of Heartland Advisors Inc’s portfolio. Monarch Partners Asset Management sold out all of its stake in COBZ during the most recent quarter. The investment firm sold 24,450 shares of COBZ which is valued $290,222.

CoBiz Financial Inc opened for trading at $12.08 and hit $12.35 on the upside on Friday, eventually ending the session at $12.32, with a gain of 2.50% or 0.3 points. The heightened volatility saw the trading volume jump to 78,965 shares. Company has a market cap of $509,691 M.

On the company’s financial health, CoBiz Financial Inc reported $0.18 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $0.18.Analysts expectations of $ 37.90.During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on CoBiz Financial Inc. Hovde Group Initiated CoBiz Financial Inc on Apr 25, 2016 to “Market Perform”, Price Target of the shares are set at $13.Shares were Reiterated by RBC Capital Mkts on Feb 16, 2016 to “Outperform” and Lowered the Price Target to $ 13 from a previous price target of $14 .

CoBiz Financial Inc. (CoBiz) is a financial holding Company. The Company operates in three segments: Commercial Banking; Fee-Based Lines and Corporate Support and Other. The Company’s Commercial Banking segments offer commercial banking real estate banking private banking interest-rate hedging depository products and treasury management. The Company’s Fee Based Line segment offers investment banking wealth management and insurance services. The Company’s wholly owned subsidiary CoBiz Bank (the Bank) is a service business banking institution serving two markets Colorado and Arizona. In Colorado the Bank operates under the name Colorado Business Bank at approximately 13 locations. In Arizona the Bank operates under the name Arizona Business Bank and has six locations serving the Phoenix metropolitan area. As of December 31 2014 the Company had total assets of $3.1 billion net loans of $2.4 billion and deposits of $2.5 billion.

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