U.S. Markets closed

CoBiz posts 1Q profit

DENVER (AP) _ CoBiz Financial Inc. (COBZ) on Thursday reported first-quarter profit of $8.6 million.

The Denver-based bank said it had earnings of 20 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 20 cents per share.

The financial services company posted revenue of $41.4 million in the period. Its adjusted revenue was $38.4 million.

CoBiz shares have risen almost 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.36, an increase of 41 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COBZ at https://www.zacks.com/ap/COBZ


Keywords: CoBiz Financial, Earnings Report