State of Alaska Department of Revenue Cuts Stock Position in Umpqua Holdings Co. (NASDAQ:UMPQ)

State of Alaska Department of Revenue lessened its holdings in Umpqua Holdings Co. (NASDAQ:UMPQGet Rating) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,112 shares of the bank’s stock after selling 1,075 shares during the period. State of Alaska Department of Revenue’s holdings in Umpqua were worth $514,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in UMPQ. Lazard Asset Management LLC raised its stake in shares of Umpqua by 138.7% in the 1st quarter. Lazard Asset Management LLC now owns 2,461 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,430 shares during the period. Rosenberg Matthew Hamilton purchased a new position in shares of Umpqua in the 2nd quarter valued at $48,000. Covestor Ltd raised its stake in shares of Umpqua by 95.3% in the 1st quarter. Covestor Ltd now owns 5,049 shares of the bank’s stock valued at $95,000 after acquiring an additional 2,464 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of Umpqua in the 2nd quarter valued at $111,000. Finally, Raymond James Trust N.A. purchased a new position in shares of Umpqua in the 2nd quarter valued at $186,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Umpqua Price Performance

Shares of UMPQ stock opened at $17.55 on Friday. The firm has a market cap of $3.81 billion, a P/E ratio of 11.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.99 and a quick ratio of 0.98. Umpqua Holdings Co. has a 1-year low of $15.77 and a 1-year high of $22.06. The firm has a fifty day moving average of $18.81 and a two-hundred day moving average of $18.20.

Umpqua (NASDAQ:UMPQGet Rating) last announced its quarterly earnings data on Wednesday, October 19th. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $317.05 million during the quarter, compared to analyst estimates of $326.95 million. Umpqua had a net margin of 26.65% and a return on equity of 14.10%. As a group, research analysts anticipate that Umpqua Holdings Co. will post 1.74 earnings per share for the current fiscal year.

Umpqua Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 6th. Shareholders of record on Monday, January 23rd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Friday, January 20th. Umpqua’s dividend payout ratio is currently 53.16%.

Insiders Place Their Bets

In other Umpqua news, insider Torran B. Nixon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $19.97, for a total transaction of $99,850.00. Following the completion of the transaction, the insider now directly owns 206,033 shares of the company’s stock, valued at approximately $4,114,479.01. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Umpqua from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $20.00 to $22.00 in a report on Thursday, December 15th. StockNews.com assumed coverage on shares of Umpqua in a report on Wednesday, October 12th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.00.

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.

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Institutional Ownership by Quarter for Umpqua (NASDAQ:UMPQ)

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