Umpqua Holdings Corporation (UMPQ) Shares Bought by Citigroup Inc.
Citigroup Inc. lifted its holdings in shares of Umpqua Holdings Corporation (NASDAQ:UMPQ) by 26.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,620 shares of the bank’s stock after buying an additional 7,490 shares during the quarter. Citigroup Inc.’s holdings in Umpqua Holdings Corporation were worth $654,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in UMPQ. BlackRock Inc. raised its stake in shares of Umpqua Holdings Corporation by 17,820.5% during the 1st quarter. BlackRock Inc. now owns 24,403,536 shares of the bank’s stock worth $432,921,000 after buying an additional 24,267,359 shares during the period. Deprince Race & Zollo Inc. acquired a new position in shares of Umpqua Holdings Corporation during the 2nd quarter worth approximately $28,844,000. State Street Corp raised its stake in shares of Umpqua Holdings Corporation by 10.8% during the 1st quarter. State Street Corp now owns 13,280,067 shares of the bank’s stock worth $235,592,000 after buying an additional 1,294,031 shares during the period. Vanguard Group Inc. increased its position in shares of Umpqua Holdings Corporation by 5.1% during the first quarter. Vanguard Group Inc. now owns 18,767,385 shares of the bank’s stock worth $332,934,000 after purchasing an additional 903,885 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Umpqua Holdings Corporation by 144.4% during the second quarter. Russell Investments Group Ltd. now owns 1,249,562 shares of the bank’s stock worth $22,942,000 after purchasing an additional 738,245 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.
Shares of Umpqua Holdings Corporation (NASDAQ UMPQ) opened at 19.95 on Wednesday. The stock has a market capitalization of $4.39 billion, a PE ratio of 18.82 and a beta of 1.14. Umpqua Holdings Corporation has a 12 month low of $14.78 and a 12 month high of $20.03. The company’s 50 day moving average price is $18.44 and its 200 day moving average price is $18.05.
Umpqua Holdings Corporation (NASDAQ:UMPQ) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $283.20 million for the quarter, compared to analyst estimates of $285.71 million. Umpqua Holdings Corporation had a return on equity of 5.92% and a net margin of 19.22%. During the same period in the prior year, the firm posted $0.25 earnings per share. Equities analysts anticipate that Umpqua Holdings Corporation will post $1.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, September 28th. This is a boost from Umpqua Holdings Corporation’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 3.61%. Umpqua Holdings Corporation’s payout ratio is currently 67.93%.
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UMPQ has been the subject of several research reports. ValuEngine upgraded Umpqua Holdings Corporation from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. SunTrust Banks, Inc. initiated coverage on Umpqua Holdings Corporation in a research report on Friday, August 18th. They set a “buy” rating and a $20.00 price target for the company. Zacks Investment Research upgraded Umpqua Holdings Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Tuesday, July 25th. Stephens reiterated a “hold” rating and set a $20.00 price target on shares of Umpqua Holdings Corporation in a research report on Thursday, July 20th. Finally, Keefe, Bruyette & Woods set a $20.00 price target on Umpqua Holdings Corporation and gave the stock a “hold” rating in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $19.64.
About Umpqua Holdings Corporation
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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