February 4, 2023

Great West Life Assurance Co. Can increased its holdings of Umpqua Holdings Co. (NASDAQ:UMPQ – Get Rating) stock by 17.1% in the third quarter, according to its recent Form 13F filing with the Securities and Exchange Commission emerges. The company owned 166,936 shares of the bank after purchasing an additional 24,323 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.08% of Umpqua for $2,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other major investors have recently added to or reduced their stakes in UMPQ. Wilbanks Smith & Thomas Asset Management LLC increased its stake in Umpqua shares by 6.6% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 119,156 shares of the bank, valued at $2,036,000, after purchasing an additional 7,357 shares last quarter. Raymond James Trust NA increased its holding in Umpqua shares by 6.1% during the third quarter. Raymond James Trust NA now owns 11,770 shares of the bank, valued at $201,000, having bought an additional 680 shares last quarter. The State of New Jersey Common Pension Fund D increased its holdings of Umpqua shares by 18.1% during the third quarter. New Jersey State’s Common Pension Fund D now owns 158,614 shares of the bank, valued at $2,711,000, after purchasing an additional 24,273 shares last quarter. Assenagon Asset Management SA acquired a new holding in Umpqua shares valued at approximately $8,396,000 during the third quarter. Finally, Handelsbanken Fonder AB increased its holding in Umpqua shares by 44.6% during the third quarter. Handelsbanken Fonder AB now owns 31,792 shares in the bank, valued at $543,000, after buying another 9,800 shares last quarter. 90.34% of the shares are currently owned by hedge funds and other institutional investors.

Analysts set new price targets

Several brokers have recently issued reports on UMPQ. Wells Fargo & Company upgraded Umpqua from an equal weight rating to an overweight rating and raised its price target on the company to 22 from $20.00 in a research report on Thursday, December 15, $00 at. StockNews.com downgraded Umpqua from a “hold” rating to a “sell” rating in a report Wednesday. One investment analyst has assigned a sell rating to the stock, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $20.00.

Umpqua Trading up 2.0%

Shares of UMPQ opened at $17.64 on Thursday. Umpqua Holdings Co. has a 12-month low of $15.77 and a 12-month high of $22.06. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt to equity ratio of 0.48. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 11.16 and a beta of 0.97. The stock’s 50-day moving average price is $18.22 and its 200-day moving average price is $18.20.

Umpqua (NASDAQ:UMPQ – Get Rating) last released its quarterly earnings results on Monday, January 23rd. The bank reported earnings per share (EPS) of $0.46 for the quarter, missing the consensus estimate of $0.54 ($0.08). The company had revenue of $387.13 million for the quarter, compared to the consensus estimate of $350.20 million. Umpqua had a net margin of 24.99% and a return on equity of 14.91%. In the same quarter last year, the company generated earnings per share of $0.41. As a group, research analysts are forecasting Umpqua Holdings Co. to report year-to-date earnings per share of 2.45.

Announcement of the Umpqua dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 6th. Stockholders of record on Monday, January 23 will receive a dividend of $0.21 per share. That equates to a dividend of $0.84 on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday January 20th. Umpqua’s payout ratio is 53.16%.

Insider buying and selling at Umpqua

In other news, insider Torran B. Nixon sold 5,000 shares of the company’s stock in a transaction that took place on Wednesday, November 2nd. The stock sold at an average price of $19.97 for a total value of $99,850.00. Following 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 Securities & Exchange Commission, which can be accessed at this hyperlink. Company insiders own 0.58% of the company’s shares.

Umpqua profile

(received rating)

Umpqua Holdings Corp. is a bank holding company providing banking and financial services. The Company operates through the following segments: Wholesale Bank, Wealth Management, Retail Bank and Home Lending. The Wholesale Bank segment includes credit, treasury and cash management services as well as customer risk management products for medium-sized corporate, business and commercial banking customers and the operation of FinPac.

Featured Stories

Want to see what other hedge funds are holding UMPQ? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Umpqua Holdings Co. (NASDAQ:UMPQ – Get Rating).

Institutional Ownership by Quarter for Umpqua (NASDAQ:UMPQ)

This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Umpqua, here’s what you should hear.

MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market takes hold… and Umpqua wasn’t on the list.

While Umpqua is currently rated a Hold by analysts, top analysts believe these five stocks are better buys.

Check out the five stocks here

A Guide to Covering High Short Yield Stocks

Leave a Reply

Your email address will not be published. Required fields are marked *