Arizona State Retirement System boosted its holdings in shares of Umpqua Holdings Corp (NASDAQ:UMPQ) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 152,861 shares of the bank’s stock after buying an additional 3,758 shares during the quarter. Arizona State Retirement System’s holdings in Umpqua were worth $3,453,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Smithfield Trust Co. bought a new stake in Umpqua during the second quarter valued at approximately $128,000. ARP Americas LP bought a new stake in Umpqua during the second quarter valued at approximately $203,000. Stifel Financial Corp bought a new stake in Umpqua during the first quarter valued at approximately $216,000. GW&K Investment Management LLC bought a new stake in Umpqua during the first quarter valued at approximately $239,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Umpqua during the second quarter valued at approximately $270,000. Institutional investors own 88.89% of the company’s stock.
Several analysts recently issued reports on the stock. Piper Jaffray Companies set a $20.00 target price on shares of Umpqua and gave the company a “sell” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Wedbush lowered shares of Umpqua from an “outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Wednesday, May 2nd. ValuEngine lowered shares of Umpqua from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, Barclays dropped their price target on shares of Umpqua from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.25.
UMPQ opened at $21.40 on Thursday. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 1.70 and a beta of 0.96. Umpqua Holdings Corp has a 1-year low of $16.77 and a 1-year high of $24.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.97.
Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings results on Wednesday, July 18th. The bank reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). The firm had revenue of $298.95 million during the quarter, compared to the consensus estimate 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 company earned $0.26 earnings per share. equities research analysts anticipate that Umpqua Holdings Corp will post 1.41 earnings per share for the current fiscal year.
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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