Highland Capital Management LP acquired a new stake in Umpqua Holdings Corp (NASDAQ:UMPQ) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 20,000 shares of the bank’s stock, valued at approximately $416,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation acquired a new stake in shares of Umpqua in the third quarter valued at approximately $121,000. Advisory Services Network LLC lifted its position in shares of Umpqua by 654.2% in the fourth quarter. Advisory Services Network LLC now owns 8,643 shares of the bank’s stock valued at $180,000 after buying an additional 7,497 shares during the last quarter. Calton & Associates Inc. acquired a new stake in shares of Umpqua in the fourth quarter valued at approximately $195,000. First Republic Investment Management Inc. acquired a new stake in shares of Umpqua in the fourth quarter valued at approximately $210,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Umpqua in the fourth quarter valued at approximately $256,000. 89.29% of the stock is owned by institutional investors.
In other Umpqua news, CFO Ron L. Farnsworth sold 5,795 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $21.45, for a total transaction of $124,302.75. Following the transaction, the chief financial officer now owns 188,809 shares in the company, valued at approximately $4,049,953.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by company insiders.
Umpqua (NASDAQ:UMPQ) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.09. Umpqua had a return on equity of 5.92% and a net margin of 20.30%. The firm had revenue of $292.60 million for the quarter, compared to analyst estimates of $293.80 million. During the same quarter last year, the company earned $0.27 EPS. The company’s revenue was down 4.5% on a year-over-year basis. equities analysts forecast that Umpqua Holdings Corp will post 1.35 earnings per share for the current year.
UMPQ has been the subject of a number of recent analyst reports. ValuEngine raised Umpqua from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub cut Umpqua from a “strong-buy” rating to a “buy” rating in a report on Friday, January 19th. SunTrust Banks reissued a “buy” rating and set a $24.00 price target on shares of Umpqua in a report on Wednesday, November 29th. Barclays lifted their price target on Umpqua from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Zacks Investment Research raised Umpqua from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $21.80.
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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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