Russell Investments Group Ltd. cut its holdings in Umpqua Holdings Corp (NASDAQ:UMPQ) by 1.2% in the third quarter, Holdings Channel reports. The fund owned 1,280,635 shares of the bank’s stock after selling 16,032 shares during the quarter. Russell Investments Group Ltd.’s holdings in Umpqua were worth $26,630,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Allied Advisory Services Inc. acquired a new stake in Umpqua in the second quarter valued at approximately $222,000. Robeco Institutional Asset Management B.V. acquired a new stake in Umpqua in the second quarter valued at approximately $10,212,000. Royal Bank of Canada lifted its stake in Umpqua by 0.9% in the first quarter. Royal Bank of Canada now owns 524,574 shares of the bank’s stock valued at $11,231,000 after acquiring an additional 4,929 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Umpqua by 90.2% in the second quarter. Public Employees Retirement System of Ohio now owns 258,560 shares of the bank’s stock valued at $5,841,000 after acquiring an additional 122,605 shares during the last quarter. Finally, ARP Americas LP acquired a new stake in Umpqua in the second quarter valued at approximately $203,000. Hedge funds and other institutional investors own 89.33% of the company’s stock.
A number of equities analysts have recently commented on the stock. ValuEngine lowered shares of Umpqua from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. BidaskClub lowered shares of Umpqua from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. Zacks Investment Research raised shares of Umpqua from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Piper Jaffray Companies set a $20.00 price target on shares of Umpqua and gave the company a “sell” rating in a research report on Thursday, August 2nd. Finally, Hovde Group set a $24.00 price target on shares of Umpqua and gave the company a “hold” rating in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.85.
NASDAQ:UMPQ opened at $19.34 on Friday. Umpqua Holdings Corp has a 12 month low of $18.17 and a 12 month high of $24.89. The company has a market capitalization of $4.26 billion, a PE ratio of 18.07, a PEG ratio of 1.48 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 0.99.
Umpqua (NASDAQ:UMPQ) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. Umpqua had a net margin of 24.23% and a return on equity of 7.74%. The company had revenue of $313.76 million for the quarter, compared to analyst estimates of $309.37 million. During the same quarter last year, the firm posted $0.28 earnings per share. Analysts predict that Umpqua Holdings Corp will post 1.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 4.34%. This is a positive change from Umpqua’s previous quarterly dividend of $0.20. Umpqua’s payout ratio is 78.50%.
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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