Umpqua Holdings Co. (NASDAQ:UMPQ) Shares Sold by Arizona State Retirement System

Arizona State Retirement System trimmed its stake in shares of Umpqua Holdings Co. (NASDAQ:UMPQGet Rating) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,556 shares of the bank’s stock after selling 692 shares during the quarter. Arizona State Retirement System’s holdings in Umpqua were worth $1,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Covestor Ltd purchased a new stake in Umpqua during the 4th quarter worth about $50,000. Cascade Investment Advisors Inc. purchased a new stake in Umpqua during the 1st quarter worth about $57,000. Van ECK Associates Corp purchased a new stake in Umpqua during the 4th quarter worth about $111,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Umpqua during the 4th quarter worth about $149,000. Finally, CWM LLC purchased a new stake in Umpqua during the 4th quarter worth about $162,000. 87.58% of the stock is owned by institutional investors and hedge funds.

Umpqua Stock Down 0.1 %

UMPQ opened at $17.60 on Tuesday. The business has a 50 day moving average price of $17.14 and a two-hundred day moving average price of $18.55. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.82 billion, a PE ratio of 10.48 and a beta of 0.98. Umpqua Holdings Co. has a 52 week low of $15.77 and a 52 week high of $22.06.

Umpqua (NASDAQ:UMPQGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $303.41 million for the quarter, compared to analysts’ expectations of $298.36 million. Umpqua had a net margin of 28.88% and a return on equity of 13.88%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share. As a group, research analysts anticipate that Umpqua Holdings Co. will post 1.75 EPS for the current year.

Umpqua Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, July 29th. This is an increase from Umpqua’s previous quarterly dividend of $0.18. This represents a $0.84 annualized dividend and a yield of 4.77%. Umpqua’s dividend payout ratio is currently 50.00%.

Insider Buying and Selling at Umpqua

In other Umpqua news, insider Torran B. Nixon sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $17.58, for a total transaction of $87,900.00. Following the transaction, the insider now owns 211,033 shares in the company, valued at approximately $3,709,960.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

UMPQ has been the subject of a number of recent analyst reports. Wedbush lifted their price target on Umpqua to $19.00 in a report on Friday, July 22nd. Truist Financial boosted their target price on Umpqua to $19.00 in a report on Monday, July 25th. Finally, TheStreet downgraded Umpqua from a “b-” rating to a “c+” rating in a report on Friday, June 17th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.25.

About Umpqua

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Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking services. It operates in two segments: Core Banking and Mortgage Banking. The company offers deposit products, including non-interest bearing checking, interest bearing checking and savings, and money market accounts, as well as certificates of deposit.

See Also

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Institutional Ownership by Quarter for Umpqua (NASDAQ:UMPQ)

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