58,535 Shares in Umpqua Holdings Corp (UMPQ) Purchased by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC acquired a new stake in shares of Umpqua Holdings Corp (NASDAQ:UMPQ) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,535 shares of the bank’s stock, valued at approximately $1,322,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Umpqua in the second quarter valued at $10,212,000. Cooke & Bieler LP increased its stake in shares of Umpqua by 4.4% in the first quarter. Cooke & Bieler LP now owns 1,373,180 shares of the bank’s stock valued at $29,400,000 after buying an additional 57,630 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Umpqua by 0.9% in the first quarter. Royal Bank of Canada now owns 524,574 shares of the bank’s stock valued at $11,231,000 after buying an additional 4,929 shares in the last quarter. ARP Americas LP acquired a new stake in shares of Umpqua in the second quarter valued at $203,000. Finally, Wells Fargo & Company MN increased its stake in shares of Umpqua by 125.0% in the second quarter. Wells Fargo & Company MN now owns 822,297 shares of the bank’s stock valued at $18,576,000 after buying an additional 456,822 shares in the last quarter. 88.96% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on UMPQ. Piper Jaffray Companies set a $20.00 target price on Umpqua and gave the company a “sell” rating in a research note on Thursday, August 2nd. BidaskClub upgraded Umpqua from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Zacks Investment Research upgraded Umpqua from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. ValuEngine lowered Umpqua from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, Barclays lowered their price objective on Umpqua from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $24.25.
Umpqua (NASDAQ:UMPQ) last posted its earnings results on Wednesday, July 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). The company had revenue of $298.95 million for the quarter, compared to analyst estimates of $304.67 million. Umpqua had a return on equity of 7.11% and a net margin of 22.53%. During the same quarter in the previous year, the firm posted $0.26 earnings per share. equities analysts anticipate that Umpqua Holdings Corp will post 1.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a $0.21 dividend. This is a boost from Umpqua’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, September 27th. This represents a $0.84 annualized dividend and a yield of 3.87%. Umpqua’s payout ratio is presently 74.77%.
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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