Envestnet Asset Management Inc. decreased its holdings in shares of Umpqua Holdings Corporation (NASDAQ:UMPQ) by 37.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,952 shares of the bank’s stock after selling 11,980 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Umpqua were worth $387,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Ffcm LLC grew its stake in shares of Umpqua by 150.1% in the second quarter. Ffcm LLC now owns 6,093 shares of the bank’s stock valued at $114,000 after buying an additional 3,657 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Umpqua by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,838 shares of the bank’s stock worth $144,000 after purchasing an additional 632 shares in the last quarter. HighTower Advisors LLC acquired a new position in Umpqua during the 2nd quarter worth $203,000. Raymond James Trust N.A. acquired a new position in Umpqua during the 2nd quarter worth $206,000. Finally, Merriman Wealth Management LLC acquired a new position in Umpqua during the 3rd quarter worth $220,000. 88.15% of the stock is owned by institutional investors.
UMPQ has been the subject of several analyst reports. Piper Jaffray Companies reissued a “sell” rating and set a $16.50 target price on shares of Umpqua in a research note on Wednesday, October 4th. Wells Fargo & Co boosted their target price on Umpqua from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Keefe, Bruyette & Woods raised Umpqua from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Barclays boosted their target price on Umpqua from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Finally, SunTrust Banks reissued a “buy” rating and set a $24.00 target price on shares of Umpqua in a research note on Wednesday, November 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $20.17.
Umpqua (NASDAQ:UMPQ) last announced its quarterly earnings results on Wednesday, October 18th. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The business had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $297.51 million. Umpqua had a return on equity of 5.79% and a net margin of 19.04%. During the same period last year, the firm earned $0.28 earnings per share. sell-side analysts predict that Umpqua Holdings Corporation will post 1.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Thursday, December 28th. Umpqua’s dividend payout ratio (DPR) is 67.93%.
In other Umpqua news, insider Raymond P. Davis sold 36,829 shares of Umpqua stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $20.60, for a total transaction of $758,677.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.
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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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