Umpqua (UMPQ) Sees Unusually-High Trading Volume After Dividend Announcement
Umpqua Holdings Corporation (NASDAQ:UMPQ) shares saw an uptick in trading volume on Friday following a dividend announcement from the company. 5,288,596 shares changed hands during trading, an increase of 247% from the previous session’s volume of 1,522,954 shares.The stock last traded at $21.07 and had previously closed at $20.48.
The newly announced dividend which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.42%. Umpqua’s dividend payout ratio is presently 67.93%.
A number of research firms recently weighed in on UMPQ. Keefe, Bruyette & Woods upgraded shares of Umpqua from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 8th. ValuEngine upgraded shares of Umpqua from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Barclays upped their target price on shares of Umpqua from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. SunTrust Banks restated a “buy” rating and issued a $24.00 target price on shares of Umpqua in a report on Wednesday, November 29th. Finally, Piper Jaffray Companies restated a “sell” rating and issued a $16.50 target price on shares of Umpqua in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $20.17.
The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.31. The firm has a market cap of $4,589.63, a P/E ratio of 20.04, a P/E/G ratio of 2.36 and a beta of 1.13.
Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The firm had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $297.51 million. Umpqua had a net margin of 19.04% and a return on equity of 5.79%. During the same quarter last year, the business posted $0.28 EPS. equities research analysts predict that Umpqua Holdings Corporation will post 1.04 earnings per share for the current year.
In other Umpqua news, insider Raymond P. Davis sold 36,829 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $20.60, for a total value of $758,677.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.
A number of large investors have recently bought and sold shares of UMPQ. HighTower Advisors LLC bought a new position in shares of Umpqua during the 2nd quarter valued at approximately $203,000. Brookstone Capital Management bought a new position in shares of Umpqua during the 2nd quarter valued at approximately $285,000. FMR LLC grew its position in shares of Umpqua by 23.8% during the 2nd quarter. FMR LLC now owns 684,900 shares of the bank’s stock valued at $12,575,000 after acquiring an additional 131,600 shares during the period. Legal & General Group Plc grew its position in shares of Umpqua by 14.3% during the 2nd quarter. Legal & General Group Plc now owns 251,143 shares of the bank’s stock valued at $4,614,000 after acquiring an additional 31,336 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Umpqua by 59.1% during the 2nd quarter. SG Americas Securities LLC now owns 81,300 shares of the bank’s stock valued at $1,493,000 after acquiring an additional 30,198 shares during the period. Hedge funds and other institutional investors own 88.26% of the company’s stock.
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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