Stock Worth Watching: Is Buying CoBiz Financial Inc Here a Winning Strategy?

Stock Worth Watching: Is Buying CoBiz Financial Inc Here a Winning Strategy?

The stock of CoBiz Financial Inc (NASDAQ:COBZ) hit a new 52-week high and has $20.06 target or 34.00% above today’s $14.97 share price. The 8 months bullish chart indicates low risk for the $641.11M company. The 1-year high was reported on Nov, 11 by If the $20.06 price target is reached, the company will be worth $217.98 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 115,645 shares traded hands or 83.11% up from the average. CoBiz Financial Inc (NASDAQ:COBZ) has risen 26.75% since April 11, 2016 and is uptrending. It has outperformed by 20.61% the S&P500.

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) earned “Hold” rating by Zacks on Monday, August 31. The rating was downgraded by Macquarie Research on Monday, October 24 to “Neutral”. The rating was upgraded by Zacks on Monday, August 17 to “Sell”. The stock of CoBiz Financial Inc (NASDAQ:COBZ) has “Outperform” rating given on Tuesday, February 16 by RBC Capital Markets. On Monday, October 19 the stock rating was maintained by Macquarie Research with “Outperform”. The rating was initiated by Hovde Group on Monday, April 25 with “Market Perform”.

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 decreased to 1.14 in Q2 2016. Its down 0.50, from 1.64 in 2016Q1. The ratio turned negative, 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.
State Board Of Administration Of Florida Retirement Sys last reported 0% of its portfolio in the stock. Barclays Public Ltd Com holds 27,364 shares or 0% of its portfolio. Teton reported 129,039 shares or 0.14% of all its holdings. Nomura Inc accumulated 12,694 shares or 0% of the stock. Blackrock Inc holds 8,016 shares or 0% of its portfolio. Legal And General Public Limited Company has 7,042 shares for 0% of their US portfolio. Pub Employees Retirement Association Of Colorado has 16,938 shares for 0% of their US portfolio. Thrivent Fin For Lutherans has invested 0.07% of its portfolio in CoBiz Financial Inc (NASDAQ:COBZ). D E Shaw has invested 0% of its portfolio in CoBiz Financial Inc (NASDAQ:COBZ). Menta Cap Lc has 35,221 shares for 0.06% of their US portfolio. Mendon Advisors Corp has 0.12% invested in the company for 100,000 shares. Polaris Cap Limited accumulated 0.11% or 103,909 shares. Alliancebernstein L P holds 16,921 shares or 0% of its portfolio. Moreover, Fmr Ltd Liability Company has 0% invested in CoBiz Financial Inc (NASDAQ:COBZ) for 1.34M shares. The New York-based Goldman Sachs Gru Inc has invested 0.01% in CoBiz Financial Inc (NASDAQ:COBZ).

Insider Transactions: Since May 12, 2016, the stock had 0 insider buys, and 15 sales for $996,575 net activity. $64,734 worth of CoBiz Financial Inc (NASDAQ:COBZ) was sold by Page Scott on Monday, July 25. BANGERT STEVEN sold $19,452 worth of CoBiz Financial Inc (NASDAQ:COBZ) on Wednesday, October 26. 6,310 shares were sold by Huss Christopher S, worth $76,351. OSTERTAG ROBERT had sold 5,195 shares worth $68,106 on Thursday, September 8. 6,589 shares were sold by DALTON RICHARD J, worth $87,304 on Wednesday, September 7. On Thursday, May 12 the insider ROTHMAN NOEL N sold $12,090. BURGAMY MICHAEL B also sold $18,282 worth of CoBiz Financial Inc (NASDAQ:COBZ) on Monday, May 16.

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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