Umpqua Holdings Corp. (UMPQ) Sees Significant Decline in Short Interest
Umpqua Holdings Corp. (NASDAQ:UMPQ) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 7,874,238 shares, a decrease of 14.2% from the August 15th total of 9,175,528 shares. Based on an average daily volume of 1,244,936 shares, the short-interest ratio is currently 6.3 days. Approximately 3.6% of the company’s stock are sold short.
Several equities research analysts have recently weighed in on UMPQ shares. Raymond James Financial Inc. raised Umpqua Holdings Corp. from an “outperform” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a report on Thursday, August 25th. DA Davidson reissued a “buy” rating and issued a $18.00 price objective on shares of Umpqua Holdings Corp. in a report on Tuesday, August 23rd. Zacks Investment Research raised Umpqua Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Wells Fargo & Co. downgraded Umpqua Holdings Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, July 11th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Umpqua Holdings Corp. in a report on Saturday, July 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.69.
Shares of Umpqua Holdings Corp. (NASDAQ:UMPQ) opened at 15.215 on Friday. Umpqua Holdings Corp. has a 12-month low of $13.46 and a 12-month high of $18.05. The firm has a 50-day moving average price of $15.75 and a 200-day moving average price of $15.67. The firm has a market cap of $3.35 billion, a P/E ratio of 15.079 and a beta of 1.27.
Umpqua Holdings Corp. (NASDAQ:UMPQ) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the 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 quarter in the prior year, the firm posted $0.31 EPS. On average, equities research analysts expect that Umpqua Holdings Corp. will post $1.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.64 annualized dividend and a yield of 4.21%. Umpqua Holdings Corp.’s dividend payout ratio is presently 62.75%.
Large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC increased its stake in Umpqua Holdings Corp. by 113.5% in the second quarter. Neuberger Berman Group LLC now owns 3,569,456 shares of the company’s stock valued at $55,220,000 after buying an additional 1,897,204 shares in the last quarter. Glenmede Trust Co. NA increased its stake 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 period. Vanguard Group Inc. increased its stake in shares of Umpqua Holdings Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 16,537,953 shares of the company’s stock worth $255,842,000 after buying an additional 798,146 shares during the period. Denver Investment Advisors LLC purchased a new stake in shares of Umpqua Holdings Corp. during the second quarter worth $11,679,000. Finally, Calvert Investment Management Inc. increased its stake in shares of Umpqua Holdings Corp. by 3,816.2% in the second quarter. Calvert Investment Management Inc. now owns 686,822 shares of the company’s stock worth $10,625,000 after buying an additional 669,284 shares during the period. Institutional investors own 91.73% of the company’s stock.
About Umpqua Holdings Corp.
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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