Worth Watching: Could CoBiz Financial Inc See a Reversal After Breaking Its 52-Week High?

Worth Watching: Could CoBiz Financial Inc See a Reversal After Breaking Its 52 Week High?

The stock of CoBiz Financial Inc (NASDAQ:COBZ) hit a new 52-week high and has $16.12 target or 5.00% above today’s $15.35 share price. The 7 months bullish chart indicates low risk for the $649.90 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $16.12 price target is reached, the company will be worth $32.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 114,257 shares traded hands or 30.29% up from the average. CoBiz Financial Inc (NASDAQ:COBZ) has risen 28.08% since April 21, 2016 and is uptrending. It has outperformed by 22.75% the S&P500.

Analysts await CoBiz Financial Inc (NASDAQ:COBZ) to report earnings on February, 10. They expect $0.20 EPS, up 81.82% or $0.09 from last year’s $0.11 per share. COBZ’s profit will be $8.47 million for 19.19 P/E if the $0.20 EPS becomes a reality. After $0.25 actual EPS reported by CoBiz Financial Inc for the previous quarter, Wall Street now forecasts -20.00% negative EPS growth.

CoBiz Financial Inc (NASDAQ:COBZ) Ratings Coverage

Out of 4 analysts covering CoBiz Financial Inc (NASDAQ:COBZ), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. CoBiz Financial Inc has been the topic of 8 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The stock of CoBiz Financial Inc (NASDAQ:COBZ) has “Sell” rating given on Monday, August 17 by Zacks. The firm earned “Hold” rating on Monday, August 31 by Zacks. The stock of CoBiz Financial Inc (NASDAQ:COBZ) has “Neutral” rating given on Monday, October 24 by Macquarie Research. The stock of CoBiz Financial Inc (NASDAQ:COBZ) earned “Outperform” rating by RBC Capital Markets on Tuesday, February 16. On Monday, April 25 the stock rating was initiated by Hovde Group with “Market Perform”. The rating was maintained by Macquarie Research with “Outperform” on Monday, October 19.

According to Zacks Investment Research, “CoBiz Inc. is a financial holding company headquartered in Denver. The company operates Colorado Business Bank and Arizona Business Bank, full-service commercial banking institutions that offer a broad range of sophisticated banking services including credit, treasury management, investment and deposit products to a targeted customer base of professionals and small to mid-sized businesses. CoBiz also offers trust and fiduciary services through CoBiz Private Asset Management; property and casualty insurance brokerage and risk management consulting services through CoBiz Insurance; investment banking services through Green Manning & Bunch; the management of stock and bond portfolios for individuals and institutions through Alexander Capital Management Group; and employee and executive benefits consulting and wealth transfer services through Financial Designs.”

Insitutional Activity: The institutional sentiment increased to 1.81 in 2016 Q2. Its up 0.67, from 1.14 in 2016Q1. The ratio increased, as 10 funds sold all CoBiz Financial Inc shares owned while 25 reduced positions. 5 funds bought stakes while 35 increased positions. They now own 30.87 million shares or 2.00% less from 31.50 million shares in 2016Q1.
Perkins Lc accumulated 0.15% or 863,717 shares. Eagle Asset Mgmt, a Florida-based fund reported 529,532 shares. Moreover, Wellington Mngmt Gp Ltd Liability Partnership has 0.01% invested in CoBiz Financial Inc (NASDAQ:COBZ) for 3.01M shares. Hsbc Public Limited Co last reported 0.05% of its portfolio in the stock. Teacher Retirement Of Texas holds 0% or 5,209 shares in its portfolio. Dimensional Fund Advsrs Ltd Partnership owns 1.79M shares or 0.01% of their US portfolio. Alliancebernstein Limited Partnership last reported 16,921 shares in the company. Rhumbline Advisers has invested 0% of its portfolio in CoBiz Financial Inc (NASDAQ:COBZ). Manufacturers Life Ins The holds 25,526 shares or 0% of its portfolio. Ny State Common Retirement Fund holds 0% of its portfolio in CoBiz Financial Inc (NASDAQ:COBZ) for 33,100 shares. Moreover, Polaris Capital Limited Liability Corp has 0.11% invested in CoBiz Financial Inc (NASDAQ:COBZ) for 103,909 shares. Blackrock Fund Advisors, a California-based fund reported 964,281 shares. Nomura Hldg Incorporated, a Japan-based fund reported 12,694 shares. The New York-based Tower Rech Capital Ltd Com (Trc) has invested 0% in CoBiz Financial Inc (NASDAQ:COBZ). Bsw Wealth last reported 16,750 shares in the company.

Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 16 sales for $1.23 million net activity. 6,269 shares were sold by Huss Christopher S, worth $78,363 on Wednesday, July 27. $8,949 worth of CoBiz Financial Inc (NASDAQ:COBZ) shares were sold by DUMLAO TROY. $164,190 worth of CoBiz Financial Inc (NASDAQ:COBZ) was sold by BANGERT STEVEN on Tuesday, May 24. Another trade for 5,522 shares valued at $72,946 was sold by OSTERTAG ROBERT. 2,000 shares with value of $30,022 were sold by ANDRICH LYNE B on Friday, November 11. Pass David also sold $49,034 worth of CoBiz Financial Inc (NASDAQ:COBZ) on Thursday, August 4. Another trade for 5,284 shares valued at $66,737 was sold by DALTON RICHARD J.

COBZ Company Profile

CoBiz Financial Inc. (CoBiz), incorporated on February 19, 1980, is a financial holding company. The Firm operates in three divisions: Commercial Banking, Fee-Based Lines, and Corporate Support and Other. The Company’s Commercial Banking segment offers commercial, real estate and private banking, as well as treasury management, interest-rate hedging and depository products. The Company’s Fee-Based Lines segment offers employee benefits brokerage and consulting, insurance brokerage and wealth management services. The Company’s subsidiary CoBiz Bank (the Bank) is a full-service business banking institution serving approximately two markets, including Colorado and Arizona. In Colorado, the Bank operates under the name Colorado Business Bank and has over 10 locations, including approximately nine in the Denver metropolitan area, and others in Boulder, Colorado Springs, Fort Collins and Vail. In Arizona, the Bank operates under the name Arizona Business Bank and has over five locations serving the Phoenix metropolitan area and the surrounding area of Maricopa County.

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