CoBiz Financial Inc (COBZ) is Initiated by Hovde Group to Market Perform, Price Target at $13

CoBiz Financial Inc (COBZ) was Initiated by Hovde Group to “Market Perform” and the brokerage firm has set the Price Target at $13. Hovde Group advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on CoBiz Financial Inc. 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 .

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.

CoBiz Financial Inc opened for trading at $11.96 and hit $12.5 on the upside on Friday, eventually ending the session at $12.39, with a gain of 2.31% or 0.28 points. The heightened volatility saw the trading volume jump to 1,52,797 shares. Company has a market cap of $509 M.

In a different news, on Mar 18, 2016, Scott Page (CEO, Cobiz Bank) sold 5,000 shares at $11.25 per share price. According to the SEC, on Nov 25, 2015, Lyne B Andrich (EVP & Chief Financial Officer) sold 5,667 shares at $13.70 per share price. On Nov 25, 2015, Steven Bangert (Chairman/CEO) sold 14,000 shares at $13.45 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

CoBiz Financial Inc

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