CoBiz Financial Inc (NDAQ:COBZ) New Coverage by Piper Jaffray

Piper Jaffray sent to investors in an analyst note that it began coverage on Cobiz Financial Inc (NDAQ:COBZ) stock, with Neutral rating.

Out of 6 analysts covering CoBiz Financial Inc, 4 rate it a Buy, 2 indicate a Hold while 0 suggest a Sell. The highest target is $13.75 and the lowest is $12 according to Thomson/First Call. The 12-month mean target is $12.96, which means downside potential of 19.50% over the current price.

Institutional Ownership

Elizabeth Park Capital Advisors Ltd. had the largest stake with ownership of 549,068 shares as of Q2 2015 for 3.21% of the stock exposure. Broadview Advisors Llc is another very bullish investment professional who is owning 1.12 million shares of CoBiz Financial Inc or 2.11% of their stock exposure. Further, Banc Funds Co Llc have 1.33% of their stock exposure invested in the company for 1.80 million shares. The Pennsylvania-based fund Penn Capital Management Co Inc revealed it had purchased so far a stake worth about 0.73% of the investment professional’s stock portfolio in CoBiz Financial Inc. The Massachusetts-based fund Nbw Capital Llc is also positive about the stock, possessing 774,076 shares or 0.53% of their stock exposure.

CoBiz Financial Inc (NDAQ:COBZ) Profile

CoBiz Financial Inc. 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 Company’s segments include Commercial Banking, Fee-Based Lines, and Corporate Support and Other.

CoBiz Financial Inc (NDAQ:COBZ) traded down -2.90% on 14 April, hitting $16.1. A total of 64,325 shares of the company’s stock traded hands. This is down from average of 97,565 shares. CoBiz Financial Inc has a 52 week low of $10.79 and a 52 week high of $17.99. The company has a market cap of $649.98M and a P/E ratio of 19.2.

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The post Piper Jaffray Initiates Coverage on CoBiz Financial Inc (NDAQ:COBZ) Stock with Neutral Rating appeared first on Octafinance.