Cetera Advisor Networks LLC increased its stake in shares of Umpqua Holdings Corp (NASDAQ:UMPQ) by 11.2% during the 4th quarter, HoldingsChannel reports. The fund owned 30,317 shares of the bank’s stock after purchasing an additional 3,050 shares during the period. Cetera Advisor Networks LLC’s holdings in Umpqua were worth $631,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in UMPQ. FMR LLC lifted its position in Umpqua by 23.8% during the 2nd quarter. FMR LLC now owns 684,900 shares of the bank’s stock worth $12,575,000 after acquiring an additional 131,600 shares in the last quarter. HighTower Advisors LLC acquired a new position in Umpqua during the 2nd quarter worth approximately $203,000. The Manufacturers Life Insurance Company lifted its position in Umpqua by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 488,206 shares of the bank’s stock worth $8,964,000 after acquiring an additional 3,898 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Umpqua by 11.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 37,822 shares of the bank’s stock worth $694,000 after acquiring an additional 3,882 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in Umpqua during the 2nd quarter worth approximately $1,327,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Ron L. Farnsworth sold 5,795 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $21.45, for a total value of $124,302.75. Following the completion of the sale, the chief financial officer now directly owns 188,809 shares in the company, valued at approximately $4,049,953.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.
Umpqua (NASDAQ:UMPQ) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.09. Umpqua had a return on equity of 5.92% and a net margin of 20.30%. The business had revenue of $292.60 million during the quarter, compared to the consensus estimate of $293.80 million. During the same period in the previous year, the business earned $0.27 EPS. The business’s quarterly revenue was down 4.5% on a year-over-year basis. sell-side analysts predict that Umpqua Holdings Corp will post 1.36 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on UMPQ shares. BidaskClub downgraded Umpqua from a “strong-buy” rating to a “buy” rating in a report on Friday, January 19th. ValuEngine upgraded Umpqua from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. SunTrust Banks restated a “buy” rating and set a $24.00 price objective on shares of Umpqua in a report on Wednesday, November 29th. Barclays lifted their price objective on Umpqua from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Zacks Investment Research upgraded Umpqua from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Umpqua has a consensus rating of “Hold” and a consensus target price of $21.80.
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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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