Sterling Capital Management LLC Sells 103,300 Shares of Umpqua Holdings Corporation (UMPQ)
Sterling Capital Management LLC lessened its holdings in Umpqua Holdings Corporation (NASDAQ:UMPQ) by 11.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 788,591 shares of the bank’s stock after selling 103,300 shares during the period. Sterling Capital Management LLC owned approximately 0.36% of Umpqua Holdings Corporation worth $14,479,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Ameritas Investment Partners Inc. boosted its position in Umpqua Holdings Corporation by 2.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 85,408 shares of the bank’s stock valued at $1,568,000 after buying an additional 1,798 shares during the period. Wilbanks Smith & Thomas Asset Management LLC purchased a new position in Umpqua Holdings Corporation in the 2nd quarter valued at approximately $269,000. Nomura Holdings Inc. boosted its position in Umpqua Holdings Corporation by 71.1% in the 2nd quarter. Nomura Holdings Inc. now owns 26,250 shares of the bank’s stock valued at $482,000 after buying an additional 10,905 shares during the period. Bank of Nova Scotia purchased a new position in Umpqua Holdings Corporation in the 2nd quarter valued at approximately $1,327,000. Finally, Atlanta Capital Management Co. L L C boosted its position in Umpqua Holdings Corporation by 12.8% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 10,745,502 shares of the bank’s stock valued at $197,288,000 after buying an additional 1,219,722 shares during the period. 87.77% of the stock is owned by institutional investors.
Shares of Umpqua Holdings Corporation (NASDAQ UMPQ) traded up 0.61% during trading on Friday, reaching $19.92. 639,216 shares of the company’s stock traded hands. The stock has a 50-day moving average of $18.58 and a 200-day moving average of $18.08. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 18.79 and a beta of 1.14. Umpqua Holdings Corporation has a 1-year low of $14.77 and a 1-year high of $20.03.
Umpqua Holdings Corporation (NASDAQ:UMPQ) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01). The firm had revenue of $283.20 million for the quarter, compared to analyst estimates of $285.71 million. Umpqua Holdings Corporation had a net margin of 19.22% and a return on equity of 5.92%. During the same period in the previous year, the business posted $0.25 earnings per share. On average, equities analysts predict that Umpqua Holdings Corporation will post $1.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.64%. This is a positive change from Umpqua Holdings Corporation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, September 28th. Umpqua Holdings Corporation’s dividend payout ratio (DPR) is presently 67.93%.
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Several equities analysts have commented on UMPQ shares. BidaskClub raised shares of Umpqua Holdings Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Piper Jaffray Companies reissued a “sell” rating and issued a $16.50 price target on shares of Umpqua Holdings Corporation in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Umpqua Holdings Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Tuesday, July 25th. SunTrust Banks, Inc. started coverage on shares of Umpqua Holdings Corporation in a research report on Friday, August 18th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Wedbush started coverage on shares of Umpqua Holdings Corporation in a research report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.64.
Umpqua Holdings Corporation Profile
Umpqua Holdings Corporation is a bank 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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