Zions Bancorporation Invests $121,000 in Umpqua Holdings Corporation (UMPQ)
Zions Bancorporation bought a new stake in shares of Umpqua Holdings Corporation (NASDAQ:UMPQ) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,203 shares of the bank’s stock, valued at approximately $121,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Citadel Advisors LLC lifted its stake in Umpqua by 591.2% in the second quarter. Citadel Advisors LLC now owns 2,650,601 shares of the bank’s stock worth $48,665,000 after acquiring an additional 2,267,129 shares during the period. Janus Henderson Group PLC purchased a new stake in Umpqua in the second quarter worth about $38,607,000. Balyasny Asset Management LLC lifted its stake in Umpqua by 1,072.4% in the second quarter. Balyasny Asset Management LLC now owns 1,904,913 shares of the bank’s stock worth $34,974,000 after acquiring an additional 1,742,435 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in Umpqua in the second quarter worth about $28,844,000. Finally, Atlanta Capital Management Co. L L C lifted its stake in Umpqua by 12.8% in the second quarter. Atlanta Capital Management Co. L L C now owns 10,745,502 shares of the bank’s stock worth $197,288,000 after acquiring an additional 1,219,722 shares during the period. 88.26% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on UMPQ shares. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $16.50 price objective on shares of Umpqua in a research note on Wednesday, October 4th. Wells Fargo & Company upped their price objective on shares of Umpqua from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Keefe, Bruyette & Woods raised shares of Umpqua from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Barclays upped their price objective on shares of Umpqua from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Umpqua in a research note on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three 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 $20.17.
In other Umpqua news, insider Raymond P. Davis sold 36,829 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $20.60, for a total transaction of $758,677.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.
Shares of Umpqua Holdings Corporation (NASDAQ UMPQ) opened at $20.48 on Friday. The company has a market cap of $4,602.84, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.37 and a beta of 1.13. Umpqua Holdings Corporation has a 1 year low of $16.65 and a 1 year high of $22.86. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.31.
Umpqua (NASDAQ:UMPQ) last released its quarterly earnings results on Wednesday, October 18th. The bank reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The firm had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $297.51 million. Umpqua had a net margin of 19.04% and a return on equity of 5.79%. During the same period in the previous year, the company posted $0.28 earnings per share. equities research analysts predict that Umpqua Holdings Corporation will post 1.04 EPS for the current year.
Umpqua Company 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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