CoBiz Financial Inc. (COBZ)’s Stock Is Buy After Forming Bullish Double Top Pattern

October 2, 2018 - By Adrian Erickson

CoBiz Financial Inc. (NASDAQ:COBZ) Logo

Investors sentiment increased to 1.55 in Q2 2018. Its up 0.38, from 1.17 in 2018Q1. It improved, as 11 investors sold CoBiz Financial Inc. shares while 29 reduced holdings. 23 funds opened positions while 39 raised stakes. 31.14 million shares or 2.24% less from 31.86 million shares in 2018Q1 were reported.
Deutsche Bank Ag reported 309,498 shares. Utd Cap Financial Advisers Limited Liability Company reported 14,851 shares stake. Renaissance Tech reported 567,500 shares stake. The California-based California State Teachers Retirement System has invested 0% in CoBiz Financial Inc. (NASDAQ:COBZ). Meeder Asset reported 1,082 shares stake. Gabelli And Inv Advisers stated it has 0.36% in CoBiz Financial Inc. (NASDAQ:COBZ). 561,010 were accumulated by Jpmorgan Chase & Com. Highland Capital L P invested 0.05% of its portfolio in CoBiz Financial Inc. (NASDAQ:COBZ). Guggenheim Cap Ltd stated it has 0% of its portfolio in CoBiz Financial Inc. (NASDAQ:COBZ). Price T Rowe Associate Md holds 0.01% or 4.48M shares in its portfolio. Barclays Public Limited Liability Company owns 99,435 shares. The Pennsylvania-based Sei Invs has invested 0% in CoBiz Financial Inc. (NASDAQ:COBZ). The Connecticut-based Aqr Cap Management Ltd has invested 0% in CoBiz Financial Inc. (NASDAQ:COBZ). Iowa-based Principal Fin Grp Inc has invested 0% in CoBiz Financial Inc. (NASDAQ:COBZ). Moreover, Ftb has 0% invested in CoBiz Financial Inc. (NASDAQ:COBZ).

Since July 20, 2018, it had 0 insider buys, and 1 insider sale for $97,797 activity.

The chart of CoBiz Financial Inc. (COBZ) shows a double top with $22.80 target or 3.00 % above today’s $22.14 share price. The 5 months chart pattern indicates low risk for the $930.56 million company. It was reported on Oct, 2 by Finviz.com. If the $22.80 price target is reached, the company will be worth $27.92 million more. Double tops are rare but powerful chart patterns.

The stock decreased 1.91% or $0.43 during the last trading session, reaching $22.14. About 5.34M shares traded or 1247.08% up from the average. CoBiz Financial Inc. (NASDAQ:COBZ) has risen 34.75% since October 2, 2017 and is uptrending. It has outperformed by 19.13% the S&P500.

CoBiz Financial Inc. (NASDAQ:COBZ) Ratings Coverage

Among 2 analysts covering CoBiz Financial (NASDAQ:COBZ), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. CoBiz Financial had 2 analyst reports since June 19, 2018 according to SRatingsIntel. Sandler O’Neill downgraded CoBiz Financial Inc. (NASDAQ:COBZ) on Tuesday, June 19 to “Hold” rating. On Monday, July 30 the stock rating was downgraded by Wood to “Market Perform”.

Another recent and important CoBiz Financial Inc. (NASDAQ:COBZ) news was published by Nasdaq.com which published an article titled: “BOK Financial completes CoBiz acquisition” on October 01, 2018.

CoBiz Financial Inc., a diversified financial services company, provides various financial services and products in the United States. The company has market cap of $930.56 million. It operates through Commercial Banking and Fee-Based Lines divisions. It has a 23.81 P/E ratio. The Commercial Banking segment offers commercial, real estate, and private banking services; and treasury management, interest-rate hedging, and depository products.

CoBiz Financial Inc. (NASDAQ:COBZ) Institutional Positions Chart

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