Greatmark Investment Partners Inc. Reduces Stake in Umpqua Holdings Corporation (UMPQ)
Greatmark Investment Partners Inc. cut its position in Umpqua Holdings Corporation (NASDAQ:UMPQ) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,725 shares of the bank’s stock after selling 5,000 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Umpqua Holdings Corporation were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of UMPQ. FMR LLC grew its stake in shares of Umpqua Holdings Corporation by 1.8% in the first quarter. FMR LLC now owns 553,300 shares of the bank’s stock valued at $9,816,000 after buying an additional 9,900 shares in the last quarter. Teachers Advisors LLC grew its stake in Umpqua Holdings Corporation by 0.7% during the 1st quarter. Teachers Advisors LLC now owns 1,302,131 shares of the bank’s stock worth $23,100,000 after purchasing an additional 8,610 shares in the last quarter. Renaissance Technologies LLC grew its stake in Umpqua Holdings Corporation by 126.3% during the 1st quarter. Renaissance Technologies LLC now owns 530,178 shares of the bank’s stock worth $9,405,000 after purchasing an additional 295,900 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Umpqua Holdings Corporation during the 1st quarter worth $234,000. Finally, Gotham Asset Management LLC grew its stake in Umpqua Holdings Corporation by 33.9% during the 1st quarter. Gotham Asset Management LLC now owns 13,460 shares of the bank’s stock worth $239,000 after purchasing an additional 3,411 shares in the last quarter. 87.82% of the stock is owned by institutional investors and hedge funds.
Umpqua Holdings Corporation (NASDAQ UMPQ) traded down $0.05 during trading hours on Wednesday, hitting $20.05. The stock had a trading volume of 682,814 shares, compared to its average volume of 1,491,674. The firm has a market cap of $4,545.58, a PE ratio of 19.85, a P/E/G ratio of 2.33 and a beta of 1.12. Umpqua Holdings Corporation has a twelve month low of $15.09 and a twelve month high of $20.98. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.31.
Umpqua Holdings Corporation (NASDAQ:UMPQ) last posted its earnings results on Wednesday, October 18th. The bank reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). Umpqua Holdings Corporation had a net margin of 19.04% and a return on equity of 5.79%. The firm had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $297.51 million. During the same period in the previous year, the firm posted $0.28 earnings per share. research analysts forecast that Umpqua Holdings Corporation will post 1.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Saturday, September 30th were issued a $0.18 dividend. This is an increase from Umpqua Holdings Corporation’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, September 28th. Umpqua Holdings Corporation’s payout ratio is presently 67.93%.
In other news, insider Raymond P. Davis sold 36,829 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $20.60, for a total value of $758,677.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.
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Several research analysts recently commented on UMPQ shares. ValuEngine raised Umpqua Holdings Corporation from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. SunTrust Banks, Inc. started coverage on Umpqua Holdings Corporation in a research note on Friday, August 18th. They set a “buy” rating and a $20.00 target price for the company. Zacks Investment Research raised Umpqua Holdings Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday, July 25th. Barclays PLC boosted their target price on Umpqua Holdings Corporation from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Finally, Stephens reissued a “hold” rating and set a $20.00 target price on shares of Umpqua Holdings Corporation in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Umpqua Holdings Corporation currently has a consensus rating of “Hold” and a consensus price target of $20.06.
About Umpqua Holdings Corporation
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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