First Trust Advisors LP reduced its stake in shares of Umpqua Holdings Corp (NASDAQ:UMPQ) by 23.6% during the second quarter, Holdings Channel reports. The institutional investor owned 992,947 shares of the bank’s stock after selling 307,296 shares during the period. First Trust Advisors LP’s holdings in Umpqua were worth $10,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC raised its stake in Umpqua by 1,322.7% during the 1st quarter. FMR LLC now owns 1,618,499 shares of the bank’s stock valued at $26,705,000 after purchasing an additional 1,504,734 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in Umpqua by 189.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 84,081 shares of the bank’s stock valued at $1,387,000 after purchasing an additional 54,988 shares during the period. Jane Street Group LLC raised its stake in Umpqua by 51.3% during the 4th quarter. Jane Street Group LLC now owns 23,109 shares of the bank’s stock valued at $409,000 after purchasing an additional 7,834 shares during the period. Geode Capital Management LLC raised its stake in Umpqua by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,649,056 shares of the bank’s stock valued at $46,888,000 after purchasing an additional 32,956 shares during the period. Finally, Norges Bank bought a new stake in Umpqua during the 4th quarter valued at approximately $45,752,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Umpqua stock opened at $10.85 on Friday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 12.47 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.98 and a current ratio of 1.00. The stock has a 50 day moving average price of $10.83 and a 200-day moving average price of $12.80. Umpqua Holdings Corp has a one year low of $8.88 and a one year high of $18.94.

Umpqua (NASDAQ:UMPQ) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.09. The firm had revenue of $327.98 million during the quarter, compared to analysts’ expectations of $306.55 million. Umpqua had a return on equity of 5.65% and a net margin of 13.68%. Sell-side analysts predict that Umpqua Holdings Corp will post 0.7 earnings per share for the current fiscal year.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Umpqua from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. DA Davidson reduced their price objective on Umpqua from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. SunTrust Banks reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Umpqua in a research note on Sunday, June 14th. Piper Sandler assumed coverage on Umpqua in a research note on Friday, June 19th. They issued a “hold” rating and a $12.00 price objective on the stock. Finally, TheStreet downgraded Umpqua from a “c” rating to a “d” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Umpqua currently has an average rating of “Hold” and an average price target of $14.57.

Umpqua Company Profile

Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking, and retail brokerage services. It operates through four segments: Wholesale 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.

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Institutional Ownership by Quarter for Umpqua (NASDAQ:UMPQ)

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