Cadence Capital Management LLC acquired a new stake in Umpqua Holdings Corp (NASDAQ:UMPQ) during the 3rd quarter, HoldingsChannel reports. The firm acquired 21,892 shares of the bank’s stock, valued at approximately $455,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TRUE Private Wealth Advisors acquired a new position in Umpqua in the third quarter valued at approximately $103,000. Smithfield Trust Co. acquired a new stake in Umpqua in the second quarter worth $128,000. Itau Unibanco Holding S.A. acquired a new stake in Umpqua in the second quarter worth $143,000. Cerebellum GP LLC acquired a new stake in Umpqua in the third quarter worth $173,000. Finally, ARP Americas LP acquired a new stake in Umpqua in the second quarter worth $203,000. Institutional investors and hedge funds own 89.20% of the company’s stock.

Shares of UMPQ stock opened at $19.70 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.28. Umpqua Holdings Corp has a 12-month low of $18.17 and a 12-month high of $24.89. The firm has a market cap of $4.35 billion, a PE ratio of 18.41, a P/E/G ratio of 1.51 and a beta of 1.00.

Umpqua (NASDAQ:UMPQ) last issued its quarterly earnings data on Wednesday, October 17th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Umpqua had a net margin of 24.23% and a return on equity of 7.74%. The company had revenue of $313.76 million during the quarter, compared to the consensus estimate of $309.37 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, research analysts anticipate that Umpqua Holdings Corp will post 1.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.21 per share. This is an increase from Umpqua’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, September 27th. This represents a $0.84 annualized dividend and a dividend yield of 4.26%. Umpqua’s dividend payout ratio is currently 78.50%.

UMPQ has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Wells Fargo & Co set a $22.00 target price on shares of Umpqua and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Raymond James cut their target price on shares of Umpqua from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. JPMorgan Chase & Co. cut their target price on shares of Umpqua from $26.00 to $25.00 and set a “$22.72” rating on the stock in a report on Monday, July 23rd. Finally, BidaskClub lowered shares of Umpqua from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $23.85.

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Umpqua Company Profile

Umpqua Holdings Corporation, through its subsidiaries, provides commercial and retail banking, and retail brokerage services. It operates through four segments: Commercial Bank, Wealth Management, Retail Bank, and Home Lending. 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.

Further Reading: What is Cost of Capital?

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Institutional Ownership by Quarter for Umpqua (NASDAQ:UMPQ)

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