Umpqua Holdings Corp (NASDAQ:UMPQ) declared a quarterly dividend on Wednesday, September 11th, NASDAQ reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.21 per share by the bank on Tuesday, October 15th. This represents a $0.84 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Friday, September 27th.
Umpqua has raised its dividend by an average of 9.0% per year over the last three years and has raised its dividend every year for the last 8 years. Umpqua has a payout ratio of 59.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Umpqua to earn $1.58 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 53.2%.
Shares of UMPQ stock traded down $0.08 on Thursday, hitting $16.72. 19,353 shares of the stock traded hands, compared to its average volume of 1,576,829. The firm’s 50-day moving average price is $16.12 and its two-hundred day moving average price is $16.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.99 and a current ratio of 1.01. The stock has a market capitalization of $3.63 billion, a PE ratio of 11.44, a PEG ratio of 1.11 and a beta of 1.09. Umpqua has a twelve month low of $15.06 and a twelve month high of $22.26.
In other news, EVP David F. Shotwell sold 7,220 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $16.73, for a total transaction of $120,790.60. Following the sale, the executive vice president now owns 74,530 shares of the company’s stock, valued at $1,246,886.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Luis Machuca sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $16.77, for a total transaction of $167,700.00. Following the sale, the director now owns 7,954 shares in the company, valued at $133,388.58. The disclosure for this sale can be found here. Insiders have sold 22,523 shares of company stock worth $369,680 in the last three months. Corporate insiders own 0.43% of the company’s stock.
Several research analysts have recently weighed in on UMPQ shares. BidaskClub cut shares of Umpqua from a “sell” rating to a “strong sell” rating in a research report on Friday, September 6th. Stephens reaffirmed a “hold” rating and issued a $18.00 target price on shares of Umpqua in a research report on Thursday, July 18th. Raymond James set a $17.00 target price on shares of Umpqua and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Zacks Investment Research raised shares of Umpqua from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.00.
Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking, and retail brokerage services. It operates through four segments: Wholesale 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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