Price T Rowe Associates Inc. MD increased its holdings in Umpqua Holdings Co. (NASDAQ:UMPQ) by 12.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,134 shares of the bank’s stock after acquiring an additional 9,605 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Umpqua were worth $1,589,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Balyasny Asset Management LLC acquired a new stake in shares of Umpqua in the 2nd quarter worth about $20,926,000. AQR Capital Management LLC grew its position in Umpqua by 73.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,429,821 shares of the bank’s stock worth $26,266,000 after purchasing an additional 604,318 shares in the last quarter. Amalgamated Bank grew its position in Umpqua by 532.0% in the 2nd quarter. Amalgamated Bank now owns 173,486 shares of the bank’s stock worth $3,201,000 after purchasing an additional 146,037 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Umpqua by 0.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 327,350 shares of the bank’s stock worth $6,040,000 after purchasing an additional 1,698 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Umpqua in the 2nd quarter worth about $1,220,000. Institutional investors own 87.72% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Umpqua from a “buy” rating to a “hold” rating in a research report on Friday, October 15th. Truist Financial downgraded shares of Umpqua to a “hold” rating and set a $21.00 price objective for the company. in a research report on Wednesday, October 13th. Truist Securities downgraded shares of Umpqua from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $21.00 in a research report on Wednesday, October 13th. Stephens downgraded shares of Umpqua from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $23.00 to $19.00 in a research report on Wednesday, October 13th. Finally, Truist downgraded shares of Umpqua from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $21.00 in a research report on Wednesday, October 13th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.21.
Umpqua stock opened at $20.13 on Thursday. Umpqua Holdings Co. has a twelve month low of $13.86 and a twelve month high of $22.03. The company’s 50 day moving average is $20.37. The company has a market cap of $4.36 billion, a P/E ratio of 9.19 and a beta of 1.16. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.14.
Umpqua (NASDAQ:UMPQ) last released its earnings results on Tuesday, October 19th. The bank reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. Umpqua had a net margin of 35.13% and a return on equity of 17.75%. The firm had revenue of $308.78 million during the quarter, compared to the consensus estimate of $311.66 million. During the same period in the prior year, the firm earned $0.57 EPS. The company’s revenue was down 11.4% compared to the same quarter last year. As a group, research analysts expect that Umpqua Holdings Co. will post 1.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 30th. Investors of record on Friday, November 19th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Thursday, November 18th. Umpqua’s dividend payout ratio (DPR) is presently 38.36%.
Umpqua Holdings Corp. operates as a bank holding company, which provides banking and financial services. The firm operates through followings segments: Wholesale Bank, Wealth Management, Retail Bank and Home Lending. The Wholesale Bank segment includes lending, treasury and cash management services and customer risk management products to middle market corporate, commercial and business banking customers and the operations of FinPac.
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