Ron L. Farnsworth Sells 9,500 Shares of Umpqua Holdings Corp (UMPQ) Stock
Umpqua Holdings Corp (NASDAQ:UMPQ) CFO Ron L. Farnsworth sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $17.62, for a total transaction of $167,390.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of NASDAQ UMPQ opened at $17.65 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.99 and a quick ratio of 0.98. The firm has a market capitalization of $3.90 billion, a PE ratio of 12.13, a PEG ratio of 1.18 and a beta of 1.07. Umpqua Holdings Corp has a 1 year low of $15.09 and a 1 year high of $24.89.
Umpqua (NASDAQ:UMPQ) last announced its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). The firm had revenue of $304.20 million during the quarter, compared to analysts’ expectations of $306.36 million. Umpqua had a return on equity of 8.05% and a net margin of 23.51%. During the same period last year, the company earned $0.28 earnings per share. As a group, research analysts predict that Umpqua Holdings Corp will post 1.67 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Standard Life Aberdeen plc increased its stake in shares of Umpqua by 17.5% in the third quarter. Standard Life Aberdeen plc now owns 775,118 shares of the bank’s stock worth $16,134,000 after purchasing an additional 115,293 shares in the last quarter. Handelsbanken Fonder AB bought a new position in shares of Umpqua during the third quarter worth $21,424,000. Access Financial Services Inc. bought a new position in shares of Umpqua during the third quarter worth $664,000. Credit Suisse AG boosted its position in shares of Umpqua by 17.7% during the third quarter. Credit Suisse AG now owns 206,343 shares of the bank’s stock worth $4,293,000 after acquiring an additional 31,060 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Umpqua during the third quarter worth $3,333,000. 88.55% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on UMPQ. Zacks Investment Research raised shares of Umpqua from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Thursday, December 6th. BidaskClub cut shares of Umpqua from a “hold” rating to a “sell” rating in a report on Tuesday, December 4th. ValuEngine cut shares of Umpqua from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Stephens reaffirmed a “hold” rating and set a $20.00 target price on shares of Umpqua in a report on Wednesday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.25.
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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