Banco de Sabadell S.A purchased a new stake in Umpqua Holdings Corp (NASDAQ:UMPQ) in the second quarter, according to its most recent filing with the SEC. The fund purchased 41,244 shares of the bank’s stock, valued at approximately $935,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of UMPQ. Smithfield Trust Co. bought a new position in Umpqua during the 2nd quarter worth $128,000. Itau Unibanco Holding S.A. bought a new position in shares of Umpqua in the second quarter worth $143,000. ARP Americas LP bought a new position in shares of Umpqua in the second quarter worth $203,000. First Allied Advisory Services Inc. bought a new position in shares of Umpqua in the second quarter worth $222,000. Finally, GAM Holding AG bought a new position in shares of Umpqua in the second quarter worth $223,000. Institutional investors and hedge funds own 88.53% of the company’s stock.
Several research firms have recently issued reports on UMPQ. ValuEngine cut Umpqua from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research cut Umpqua from a “hold” rating to a “sell” rating in a research note on Saturday. BidaskClub cut Umpqua from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Piper Jaffray Companies set a $20.00 price target on Umpqua and gave the stock a “sell” rating in a research note on Thursday, August 2nd. Finally, Hovde Group set a $24.00 price target on Umpqua and gave the stock a “hold” rating in a research note on Monday, July 23rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Umpqua has an average rating of “Hold” and an average target price of $24.42.
Shares of Umpqua stock traded down $0.38 during trading on Friday, hitting $20.88. The stock had a trading volume of 2,066,048 shares, compared to its average volume of 1,778,324. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.64 and a beta of 0.96. Umpqua Holdings Corp has a fifty-two week low of $19.53 and a fifty-two week high of $24.89.
Umpqua (NASDAQ:UMPQ) last announced its earnings results on Wednesday, July 18th. The bank reported $0.31 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.03). Umpqua had a net margin of 22.53% and a return on equity of 7.11%. The company had revenue of $298.95 million for the quarter, compared to analysts’ expectations of $304.67 million. During the same period in the prior year, the company earned $0.26 earnings per share. Analysts anticipate that Umpqua Holdings Corp will post 1.41 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.02%. This is an increase from Umpqua’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, September 27th. Umpqua’s dividend payout ratio is currently 78.50%.
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.
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