Massachusetts Financial Services Co. MA Has $194.09 Million Stock Holdings in Umpqua Holdings Co. (NASDAQ:UMPQ)

Massachusetts Financial Services Co. MA grew its position in shares of Umpqua Holdings Co. (NASDAQ:UMPQ) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,584,494 shares of the bank’s stock after purchasing an additional 138,689 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Umpqua were worth $194,087,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in UMPQ. FMR LLC boosted its stake in shares of Umpqua by 1,322.7% during the first quarter. FMR LLC now owns 1,618,499 shares of the bank’s stock valued at $26,705,000 after purchasing an additional 1,504,734 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Umpqua by 189.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 84,081 shares of the bank’s stock worth $1,387,000 after acquiring an additional 54,988 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Umpqua by 5.2% during the second quarter. Envestnet Asset Management Inc. now owns 102,856 shares of the bank’s stock worth $1,898,000 after acquiring an additional 5,053 shares during the last quarter. Sei Investments Co. raised its position in shares of Umpqua by 43.7% during the second quarter. Sei Investments Co. now owns 55,685 shares of the bank’s stock worth $1,016,000 after acquiring an additional 16,932 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Umpqua by 2.2% during the second quarter. Rockefeller Capital Management L.P. now owns 121,042 shares of the bank’s stock worth $2,233,000 after acquiring an additional 2,608 shares during the last quarter. 93.05% of the stock is currently owned by hedge funds and other institutional investors.

UMPQ stock opened at $21.16 on Friday. The stock has a market cap of $4.58 billion, a P/E ratio of 9.66 and a beta of 1.13. The stock’s fifty day simple moving average is $19.95 and its two-hundred day simple moving average is $19.59. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.14. Umpqua Holdings Co. has a 1-year low of $14.49 and a 1-year high of $22.03.

Umpqua (NASDAQ:UMPQ) last issued its earnings results on Tuesday, October 19th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The firm had revenue of $308.78 million for the quarter, compared to analyst estimates of $311.66 million. Umpqua had a return on equity of 17.75% and a net margin of 35.13%. The business’s revenue was down 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. As a group, analysts forecast that Umpqua Holdings Co. will post 1.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Shareholders of record on Friday, November 19th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 18th. This represents a $0.84 annualized dividend and a dividend yield of 3.97%. Umpqua’s payout ratio is presently 38.36%.

In related news, insider Torran B. Nixon sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.

A number of brokerages have recently issued reports on UMPQ. Truist Securities downgraded Umpqua from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $22.00 to $21.00 in a research report on Wednesday, October 13th. Truist downgraded Umpqua from a “buy” rating to a “hold” rating and lowered their target price for the stock from $22.00 to $21.00 in a report on Wednesday, October 13th. Truist Financial downgraded Umpqua to a “hold” rating and set a $21.00 target price for the company. in a report on Wednesday, October 13th. Wells Fargo & Company downgraded Umpqua from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $24.00 to $20.00 in a report on Tuesday, January 4th. Finally, Zacks Investment Research downgraded Umpqua from a “buy” rating to a “hold” rating in a report on Friday, October 15th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.93.

Umpqua Profile

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.

Further Reading: Example of operating income, EBIT and EBITDA

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Institutional Ownership by Quarter for Umpqua (NASDAQ:UMPQ)

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