Financial Insights Inc. acquired a new position in Umpqua Holdings Co. (NASDAQ:UMPQ) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,000 shares of the bank’s stock, valued at approximately $37,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors boosted its holdings in Umpqua by 63.6% in the 1st quarter. Captrust Financial Advisors now owns 4,123 shares of the bank’s stock worth $72,000 after buying an additional 1,603 shares during the period. Toronto Dominion Bank boosted its holdings in Umpqua by 13.3% in the 2nd quarter. Toronto Dominion Bank now owns 5,095 shares of the bank’s stock worth $94,000 after buying an additional 598 shares during the period. Alpha Paradigm Partners LLC bought a new position in Umpqua in the 1st quarter valued at $113,000. Panagora Asset Management Inc. boosted its holdings in Umpqua by 4,131.2% in the 1st quarter. Panagora Asset Management Inc. now owns 7,870 shares of the bank’s stock valued at $138,000 after purchasing an additional 7,684 shares during the period. Finally, Paragon Capital Management Ltd bought a new position in Umpqua in the 2nd quarter valued at $187,000. 87.79% of the stock is owned by institutional investors.
UMPQ has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Umpqua from an “underweight” rating to a “neutral” rating and set a $22.50 price target for the company in a report on Monday, July 26th. Zacks Investment Research raised shares of Umpqua from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a report on Friday, July 30th. Finally, Stephens reissued an “overweight” rating and issued a $18.64 price target (down from $21.50) on shares of Umpqua in a report on Tuesday, July 27th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $17.52.
Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings data on Tuesday, July 20th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The company had revenue of $320.84 million during the quarter, compared to the consensus estimate of $311.70 million. Umpqua had a net margin of 34.90% and a return on equity of 18.56%. During the same period in the previous year, the firm posted $0.24 EPS. On average, sell-side analysts predict that Umpqua Holdings Co. will post 1.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Friday, August 20th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Thursday, August 19th. Umpqua’s payout ratio is presently -100.00%.
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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