Millennium Management LLC trimmed its stake in Umpqua Holdings Co. (NASDAQ:UMPQ) by 30.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,551,037 shares of the bank’s stock after selling 1,136,124 shares during the period. Millennium Management LLC owned about 1.16% of Umpqua worth $53,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its position in shares of Umpqua by 655.7% in the 4th quarter. Alliancebernstein L.P. now owns 4,282,897 shares of the bank’s stock worth $89,084,000 after purchasing an additional 3,716,144 shares during the period. First Trust Advisors LP lifted its position in shares of Umpqua by 69.1% in the 4th quarter. First Trust Advisors LP now owns 2,605,991 shares of the bank’s stock worth $54,205,000 after purchasing an additional 1,064,635 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Umpqua by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,923,159 shares of the bank’s stock worth $37,752,000 after purchasing an additional 74,244 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Umpqua by 5.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,743,227 shares of the bank’s stock worth $36,260,000 after purchasing an additional 85,687 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in shares of Umpqua by 3.1% in the 4th quarter. Allianz Asset Management GmbH now owns 1,565,116 shares of the bank’s stock worth $32,555,000 after purchasing an additional 47,764 shares during the period. 91.12% of the stock is owned by institutional investors.
In related news, CFO Ron L. Farnsworth sold 5,795 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $21.45, for a total transaction of $124,302.75. Following the completion of the sale, the chief financial officer now owns 188,809 shares of the company’s stock, valued at $4,049,953.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Umpqua (NASDAQ:UMPQ) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.09. Umpqua had a net margin of 20.30% and a return on equity of 5.92%. The company had revenue of $292.60 million during the quarter, compared to analysts’ expectations of $293.80 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. Umpqua’s revenue for the quarter was down 4.5% compared to the same quarter last year. equities analysts forecast that Umpqua Holdings Co. will post 1.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Monday, April 2nd will be given a dividend of $0.20 per share. This is a boost from Umpqua’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, March 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.57%. Umpqua’s dividend payout ratio is presently 63.72%.
Several brokerages have recently weighed in on UMPQ. BidaskClub raised shares of Umpqua from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of Umpqua from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. ValuEngine raised shares of Umpqua from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. lowered their price target on shares of Umpqua from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Finally, Hovde Group reaffirmed a “hold” rating and issued a $22.50 price target on shares of Umpqua in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.80.
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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