Raymond James Financial Services Advisors Inc. Decreases Stake in Umpqua Holdings Corporation (UMPQ)
Raymond James Financial Services Advisors Inc. lowered its position in Umpqua Holdings Corporation (NASDAQ:UMPQ) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,082 shares of the bank’s stock after selling 3,740 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Umpqua were worth $665,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Umpqua by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 18,972,548 shares of the bank’s stock worth $348,335,000 after acquiring an additional 205,163 shares in the last quarter. Capital World Investors raised its position in shares of Umpqua by 6.6% in the 2nd quarter. Capital World Investors now owns 15,273,300 shares of the bank’s stock worth $280,418,000 after acquiring an additional 944,594 shares in the last quarter. Atlanta Capital Management Co. L L C raised its position in shares of Umpqua by 12.8% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 10,745,502 shares of the bank’s stock worth $197,288,000 after acquiring an additional 1,219,722 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Umpqua by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,125,578 shares of the bank’s stock worth $112,464,000 after acquiring an additional 207,304 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of Umpqua by 12.2% in the 2nd quarter. Macquarie Group Ltd. now owns 5,445,291 shares of the bank’s stock worth $99,976,000 after acquiring an additional 593,986 shares in the last quarter. 88.26% of the stock is owned by hedge funds and other institutional investors.
UMPQ has been the subject of several research reports. BidaskClub lowered Umpqua from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. SunTrust Banks initiated coverage on Umpqua in a research report on Friday, August 18th. They set a “buy” rating and a $20.00 price objective for the company. ValuEngine raised Umpqua from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Piper Jaffray Companies reaffirmed a “sell” rating and set a $16.50 price objective on shares of Umpqua in a research report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 price objective on shares of Umpqua in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Umpqua currently has a consensus rating of “Hold” and a consensus target price of $20.17.
Umpqua Holdings Corporation (NASDAQ UMPQ) opened at $22.59 on Tuesday. Umpqua Holdings Corporation has a 52-week low of $16.65 and a 52-week high of $22.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.96 and a current ratio of 0.98. The firm has a market capitalization of $4,871.52, a P/E ratio of 21.27, a P/E/G ratio of 2.51 and a beta of 1.13.
Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings data on Wednesday, October 18th. The bank reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). Umpqua had a net margin of 19.04% and a return on equity of 5.79%. The company had revenue of $295.87 million for the quarter, compared to the consensus estimate of $297.51 million. During the same period last year, the business earned $0.28 EPS. equities analysts forecast that Umpqua Holdings Corporation will post 1.04 earnings per share for the current year.
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Umpqua Company Profile
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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