Umpqua Holdings Corp. (UMPQ) Sees Significant Decline in Short Interest
Umpqua Holdings Corp. (NASDAQ:UMPQ) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 7,874,238 shares, a decline of 14.2% from the August 15th total of 9,175,528 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average trading volume of 1,244,936 shares, the days-to-cover ratio is currently 6.3 days.
A number of equities research analysts have recently weighed in on UMPQ shares. Raymond James Financial Inc. upgraded Umpqua Holdings Corp. from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $18.00 to $17.00 in a report on Friday, July 8th. Wells Fargo & Co. downgraded Umpqua Holdings Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, July 11th. Piper Jaffray Cos. reiterated an “underweight” rating and issued a $13.50 price target on shares of Umpqua Holdings Corp. in a report on Friday, June 17th. DA Davidson reiterated a “buy” rating and issued a $18.00 price target on shares of Umpqua Holdings Corp. in a report on Tuesday, August 23rd. Finally, Zacks Investment Research upgraded Umpqua Holdings Corp. from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.69.
Umpqua Holdings Corp. (NASDAQ:UMPQ) opened at 15.215 on Friday. The firm’s 50-day moving average price is $15.75 and its 200-day moving average price is $15.67. Umpqua Holdings Corp. has a 12 month low of $13.46 and a 12 month high of $18.05. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 15.079 and a beta of 1.27.
Umpqua Holdings Corp. (NASDAQ:UMPQ) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. Umpqua Holdings Corp. had a return on equity of 6.77% and a net margin of 18.90%. During the same period in the prior year, the company posted $0.31 earnings per share. Equities research analysts predict that Umpqua Holdings Corp. will post $1.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.16 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.21%. Umpqua Holdings Corp.’s dividend payout ratio is currently 62.75%.
Several hedge funds have recently made changes to their positions in the company. GW&K Investment Management LLC increased its stake in shares of Umpqua Holdings Corp. by 55.3% in the first quarter. GW&K Investment Management LLC now owns 451,901 shares of the company’s stock worth $7,167,000 after buying an additional 160,861 shares in the last quarter. IMS Capital Management boosted its position in shares of Umpqua Holdings Corp. by 20.7% in the first quarter. IMS Capital Management now owns 157,595 shares of the company’s stock worth $2,499,000 after buying an additional 27,052 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of Umpqua Holdings Corp. by 2,499.6% in the first quarter. Glenmede Trust Co. NA now owns 1,281,922 shares of the company’s stock worth $20,330,000 after buying an additional 1,232,610 shares during the last quarter. Sii Investments Inc. WI bought a new position in shares of Umpqua Holdings Corp. during the first quarter worth about $389,000. Finally, Aperio Group LLC boosted its position in shares of Umpqua Holdings Corp. by 63.8% in the first quarter. Aperio Group LLC now owns 39,618 shares of the company’s stock worth $628,000 after buying an additional 15,430 shares during the last quarter. Institutional investors own 91.73% of the company’s stock.
Umpqua Holdings Corp. Company Profile
Umpqua Holdings Corporation is a financial holding company. The Company’s principal operating subsidiaries include Umpqua Bank (the Bank) and Umpqua Investments, Inc (Umpqua Investments). It operates through two segments: Community Banking and Home Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and retail customers in its primary market areas.
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