Verition Fund Management LLC lifted its position in shares of Umpqua Holdings Co. (NASDAQ:UMPQ – Get Rating) by 39.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,632 shares of the bank’s stock after purchasing an additional 30,683 shares during the period. Verition Fund Management LLC owned about 0.05% of Umpqua worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Umpqua by 0.7% during the first quarter. Vanguard Group Inc. now owns 20,804,868 shares of the bank’s stock worth $392,380,000 after purchasing an additional 150,769 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Umpqua by 0.8% during the first quarter. BlackRock Inc. now owns 19,583,446 shares of the bank’s stock worth $369,344,000 after purchasing an additional 164,322 shares during the last quarter. State Street Corp grew its holdings in shares of Umpqua by 5.2% during the fourth quarter. State Street Corp now owns 11,006,211 shares of the bank’s stock worth $211,759,000 after purchasing an additional 547,100 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Umpqua by 0.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,783,109 shares of the bank’s stock worth $203,370,000 after purchasing an additional 71,955 shares during the last quarter. Finally, Versor Investments LP boosted its holdings in Umpqua by 6.8% in the first quarter. Versor Investments LP now owns 4,349,634 shares of the bank’s stock valued at $82,034,000 after acquiring an additional 275,923 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.
Insider Transactions at Umpqua
In other news, insider Torran B. Nixon sold 5,000 shares of the stock in a transaction 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is owned by corporate insiders.
Umpqua Trading Down 2.0 %
Umpqua (NASDAQ:UMPQ – Get Rating) last announced its earnings results on Wednesday, July 20th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Umpqua had a net margin of 28.88% and a return on equity of 13.88%. The business had revenue of $303.41 million for the quarter, compared to analysts’ expectations of $298.36 million. During the same period in the prior year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that Umpqua Holdings Co. will post 1.75 EPS for the current year.
Umpqua Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, August 1st were paid a dividend of $0.21 per share. This is an increase from Umpqua’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, July 29th. This represents a $0.84 annualized dividend and a dividend yield of 4.75%. Umpqua’s dividend payout ratio is presently 50.00%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Umpqua to $19.00 in a report on Monday, July 25th. TheStreet lowered Umpqua from a “b-” rating to a “c+” rating in a research report on Friday, June 17th. Finally, Wedbush upped their target price on Umpqua to $19.00 in a research report on Friday, July 22nd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Umpqua presently has a consensus rating of “Hold” and an average price target of $19.25.
Umpqua Company Profile
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.
- Get a free copy of the StockNews.com research report on Umpqua (UMPQ)
- Kroger’s is Your One-Stop Consumer Staples Stock
- Adobe Perfects the Art of the Faceplant for Investors
- Tax Credits are the Incentives in the Inflation Reduction Act
- 3 Banks Worth Considering For Q4
- Stock Market: 3 Islands Of Strength In A Sea Of Red
Receive News & Ratings for Umpqua Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Umpqua and related companies with MarketBeat.com's FREE daily email newsletter.