Oppenheimer Asset Management Inc. reduced its stake in shares of Umpqua Holdings Corporation (NASDAQ:UMPQ) by 12.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,515 shares of the bank’s stock after selling 1,682 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Umpqua Holdings Corporation were worth $211,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of UMPQ. Canada Pension Plan Investment Board increased its holdings in Umpqua Holdings Corporation by 132.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 27,900 shares of the bank’s stock worth $495,000 after purchasing an additional 15,900 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Umpqua Holdings Corporation by 4.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 129,306 shares of the bank’s stock worth $2,291,000 after purchasing an additional 5,536 shares in the last quarter. American Century Companies Inc. bought a new stake in Umpqua Holdings Corporation during the 1st quarter worth approximately $7,183,000. Suntrust Banks Inc. increased its holdings in Umpqua Holdings Corporation by 0.9% during the 1st quarter. Suntrust Banks Inc. now owns 28,880 shares of the bank’s stock worth $511,000 after purchasing an additional 253 shares in the last quarter. Finally, Comerica Bank increased its holdings in Umpqua Holdings Corporation by 3.8% during the 1st quarter. Comerica Bank now owns 170,283 shares of the bank’s stock worth $3,074,000 after purchasing an additional 6,215 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Umpqua Holdings Corporation (NASDAQ:UMPQ) opened at 18.98 on Thursday. Umpqua Holdings Corporation has a one year low of $14.78 and a one year high of $19.50. The firm’s 50-day moving average price is $17.74 and its 200-day moving average price is $17.88. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 17.91 and a beta of 1.12.
Umpqua Holdings Corporation (NASDAQ:UMPQ) last released its earnings results on Wednesday, July 19th. The bank reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). Umpqua Holdings Corporation had a net margin of 19.22% and a return on equity of 5.92%. The business had revenue of $283.20 million for the quarter, compared to analysts’ expectations of $285.71 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. Analysts anticipate that Umpqua Holdings Corporation will post $1.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.79%. This is a positive change from Umpqua Holdings Corporation’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, September 28th. Umpqua Holdings Corporation’s dividend payout ratio (DPR) is presently 60.38%.
UMPQ has been the subject of a number of recent research reports. ValuEngine lowered Umpqua Holdings Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods set a $20.00 price objective on Umpqua Holdings Corporation and gave the stock a “hold” rating in a report on Thursday, June 8th. BidaskClub raised Umpqua Holdings Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research raised Umpqua Holdings Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, Wedbush initiated coverage on Umpqua Holdings Corporation in a report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.17.
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Umpqua Holdings Corporation Profile
Umpqua Holdings Corporation is a bank holding company. The Company’s principal operating subsidiaries include Umpqua Bank (the Bank) and Umpqua Investments, Inc (Umpqua Investments). It operates through two segments: Community Banking and Home Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and retail customers in its primary market areas.
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