Stone Ridge Asset Management LLC purchased a new stake in shares of Umpqua Holdings Co. (NASDAQ:UMPQ) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 57,538 shares of the bank’s stock, valued at approximately $1,197,000.
A number of other hedge funds have also recently made changes to their positions in UMPQ. Zions Bancorporation bought a new position in Umpqua during the 3rd quarter valued at about $121,000. Advisory Services Network LLC increased its position in Umpqua by 654.2% in the 4th quarter. Advisory Services Network LLC now owns 8,643 shares of the bank’s stock valued at $180,000 after acquiring an additional 7,497 shares in the last quarter. Calton & Associates Inc. acquired a new stake in Umpqua in the 4th quarter valued at about $195,000. First Republic Investment Management Inc. acquired a new stake in Umpqua in the 4th quarter valued at about $210,000. Finally, Fox Run Management L.L.C. acquired a new stake in Umpqua in the 4th quarter valued at about $256,000. 91.16% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine upgraded shares of Umpqua from a “buy” rating to a “strong-buy” rating in a research report on Friday. Stephens restated a “hold” rating and issued a $24.00 price objective on shares of Umpqua in a research report on Tuesday, March 20th. BidaskClub upgraded shares of Umpqua from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Finally, Hovde Group restated a “hold” rating and issued a $22.50 price objective on shares of Umpqua in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $22.20.
Shares of NASDAQ:UMPQ traded down $0.49 during trading on Friday, hitting $21.37. 1,639,025 shares of the company’s stock were exchanged, compared to its average volume of 1,896,418. The stock has a market cap of $4,710.78, a price-to-earnings ratio of 19.97, a P/E/G ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.98 and a quick ratio of 0.97. Umpqua Holdings Co. has a 1-year low of $16.65 and a 1-year high of $23.18.
Umpqua (NASDAQ:UMPQ) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.09. The firm had revenue of $292.60 million during the quarter, compared to analysts’ expectations of $293.80 million. Umpqua had a net margin of 20.30% and a return on equity of 5.92%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. equities research analysts anticipate that Umpqua Holdings Co. will post 1.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Monday, April 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.74%. This is a boost from Umpqua’s previous quarterly dividend of $0.18. Umpqua’s payout ratio is currently 74.77%.
In related news, CFO Ron L. Farnsworth sold 5,795 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $21.45, for a total transaction of $124,302.75. Following the completion of the transaction, the chief financial officer now owns 188,809 shares in the company, valued at $4,049,953.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.
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Umpqua Holdings Corporation, through its subsidiaries, provides commercial and retail banking, and retail brokerage services. It operates through four segments: Commercial Bank, Wealth Management, Retail Bank, and Home Lending. The company offers deposit products, including non-interest bearing checking, interest bearing checking and savings, and money market accounts, as well as certificates of deposit.
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