Inspire Investing LLC bought a new stake in Umpqua Holdings Co. (NASDAQ:UMPQ) during the third quarter, according to its most recent filing with the SEC. The firm bought 11,682 shares of the bank’s stock, valued at approximately $237,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in UMPQ. Weiss Multi Strategy Advisers LLC increased its position in Umpqua by 104.2% in the 2nd quarter. Weiss Multi Strategy Advisers LLC now owns 302,503 shares of the bank’s stock worth $5,581,000 after buying an additional 154,343 shares during the period. AQR Capital Management LLC increased its position in Umpqua by 73.2% during the second quarter. AQR Capital Management LLC now owns 1,429,821 shares of the bank’s stock worth $26,266,000 after acquiring an additional 604,318 shares during the period. Inscription Capital LLC acquired a new position in Umpqua during the 2nd quarter valued at $344,000. Synergy Financial Management LLC bought a new stake in Umpqua in the 2nd quarter valued at $2,575,000. Finally, HITE Hedge Asset Management LLC grew its position in Umpqua by 31.0% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 162,636 shares of the bank’s stock worth $3,001,000 after purchasing an additional 38,522 shares during the last quarter. Hedge funds and other institutional investors own 93.05% of the company’s stock.
UMPQ has been the subject of several research reports. Truist Securities cut shares of Umpqua from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $21.00 in a research note on Wednesday, October 13th. Truist lowered Umpqua from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $21.00 in a report on Wednesday, October 13th. Wells Fargo & Company lowered Umpqua from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $24.00 to $20.00 in a research note on Tuesday, January 4th. Zacks Investment Research downgraded shares of Umpqua from a “buy” rating to a “hold” rating in a research note on Friday, October 15th. Finally, Stephens cut shares of Umpqua from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $23.00 to $19.00 in a research note on Wednesday, October 13th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Umpqua has an average rating of “Hold” and a consensus price target of $20.93.
Umpqua (NASDAQ:UMPQ) last announced its quarterly earnings results on Tuesday, October 19th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $308.78 million during the quarter, compared to the consensus estimate of $311.66 million. Umpqua had a net margin of 35.13% and a return on equity of 17.75%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. On average, equities research analysts predict that Umpqua Holdings Co. will post 1.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Stockholders of record on Friday, November 19th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, November 18th. Umpqua’s payout ratio is currently 38.36%.
In related news, insider Torran B. Nixon sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.58% of the stock is owned by insiders.
Umpqua Company Profile
Umpqua Holdings Corp. operates as a bank holding company, which provides banking and financial services. The firm operates through followings segments: Wholesale Bank, Wealth Management, Retail Bank and Home Lending. The Wholesale Bank segment includes lending, treasury and cash management services and customer risk management products to middle market corporate, commercial and business banking customers and the operations of FinPac.
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