State Treasurer State of Michigan trimmed its stake in shares of Umpqua Holdings Corporation (NASDAQ:UMPQ) by 4.3% during the fourth quarter, Holdings Channel reports. The fund owned 79,200 shares of the bank’s stock after selling 3,600 shares during the quarter. State Treasurer State of Michigan’s holdings in Umpqua were worth $1,647,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zions Bancorporation bought a new position in Umpqua during the 3rd quarter valued at $121,000. HighTower Advisors LLC bought a new position in Umpqua during the 2nd quarter valued at $203,000. Merriman Wealth Management LLC bought a new position in Umpqua during the 3rd quarter valued at $220,000. Fox Run Management L.L.C. bought a new position in Umpqua during the 4th quarter valued at $256,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Umpqua by 43.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,468 shares of the bank’s stock valued at $259,000 after acquiring an additional 3,792 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.
Umpqua Holdings Corporation (NASDAQ UMPQ) opened at $21.92 on Thursday. 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 Corporation has a 52-week low of $16.65 and a 52-week high of $22.89. The stock has a market cap of $4,717.79, a PE ratio of 19.40, a PEG ratio of 1.85 and a beta of 1.10.
The firm also recently declared a dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a $0.18 dividend. The ex-dividend date was Thursday, December 28th. Umpqua’s payout ratio is currently 63.72%.
In other news, CFO Ron L. Farnsworth sold 5,795 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $21.45, for a total value of $124,302.75. Following the transaction, the chief financial officer now directly owns 188,809 shares in the company, valued at approximately $4,049,953.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.52% of the company’s stock.
A number of research analysts have commented on UMPQ shares. BidaskClub downgraded shares of Umpqua from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 5th. SunTrust Banks reiterated a “buy” rating and set a $24.00 price objective on shares of Umpqua in a research note on Wednesday, November 29th. ValuEngine upgraded shares of Umpqua from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Barclays increased their price objective on shares of Umpqua from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.80.
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Umpqua Company 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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