Summit X LLC acquired a new position in shares of Umpqua Holdings Corp (NASDAQ:UMPQ) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,410 shares of the bank’s stock, valued at approximately $211,000.
Several other institutional investors also recently modified their holdings of UMPQ. Smithfield Trust Co. acquired a new position in shares of Umpqua during the 2nd quarter worth approximately $128,000. Itau Unibanco Holding S.A. acquired a new position in shares of Umpqua during the 2nd quarter worth approximately $143,000. ARP Americas LP acquired a new position in shares of Umpqua during the 2nd quarter worth approximately $203,000. Stifel Financial Corp acquired a new position in shares of Umpqua during the 1st quarter worth approximately $216,000. Finally, First Allied Advisory Services Inc. acquired a new position in shares of Umpqua during the 2nd quarter worth approximately $222,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Umpqua from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research note on Wednesday, June 20th. BidaskClub cut shares of Umpqua from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Sandler O’Neill reaffirmed a “buy” rating and issued a $25.00 target price on shares of Umpqua in a research note on Friday, July 20th. Finally, ValuEngine raised shares of Umpqua from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $24.25.
Umpqua (NASDAQ:UMPQ) last released its earnings results on Wednesday, July 18th. The bank reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). The firm had revenue of $298.95 million during the quarter, compared to analysts’ expectations of $304.67 million. Umpqua had a return on equity of 7.11% and a net margin of 22.53%. During the same period in the previous year, the firm posted $0.26 earnings per share. sell-side analysts expect that Umpqua Holdings Corp will post 1.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, September 27th. This is a boost from Umpqua’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 3.89%. Umpqua’s payout ratio is currently 74.77%.
Umpqua Company Profile
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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