Geode Capital Management LLC boosted its stake in shares of Umpqua Holdings Corp. (NASDAQ:UMPQ) by 6.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,826,464 shares of the company’s stock after buying an additional 104,581 shares during the period. Geode Capital Management LLC owned about 0.83% of Umpqua Holdings Corp. worth $28,967,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in UMPQ. State Street Corp increased its stake in Umpqua Holdings Corp. by 0.9% in the first quarter. State Street Corp now owns 10,975,389 shares of the company’s stock valued at $174,070,000 after buying an additional 101,355 shares during the period. Perkins Investment Management LLC increased its stake in Umpqua Holdings Corp. by 6.1% in the fourth quarter. Perkins Investment Management LLC now owns 6,651,946 shares of the company’s stock valued at $105,766,000 after buying an additional 385,360 shares during the period. JPMorgan Chase & Co. increased its stake in Umpqua Holdings Corp. by 9.0% in the first quarter. JPMorgan Chase & Co. now owns 4,151,065 shares of the company’s stock valued at $65,836,000 after buying an additional 342,742 shares during the period. Ameriprise Financial Inc. increased its stake in Umpqua Holdings Corp. by 4.8% in the fourth quarter. Ameriprise Financial Inc. now owns 3,369,083 shares of the company’s stock valued at $53,575,000 after buying an additional 152,902 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Umpqua Holdings Corp. by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,226,567 shares of the company’s stock valued at $51,302,000 after buying an additional 949,557 shares during the period.
Shares of Umpqua Holdings Corp. (NASDAQ:UMPQ) traded up 0.46% during mid-day trading on Tuesday, hitting $15.25. The company had a trading volume of 1,092,855 shares. The company has a market capitalization of $3.36 billion and a PE ratio of 15.11. The company’s 50-day moving average is $15.52 and its 200 day moving average is $15.39. Umpqua Holdings Corp. has a one year low of $13.46 and a one year high of $18.13.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 28th. This represents a $0.64 annualized dividend and a dividend yield of 4.20%.
Several analysts recently issued reports on UMPQ shares. Raymond James Financial Inc. upgraded Umpqua Holdings Corp. from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $18.00 to $17.00 in a research note on Friday, July 8th. Royal Bank Of Canada upped their target price on Umpqua Holdings Corp. from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, March 28th. Citigroup Inc. downgraded Umpqua Holdings Corp. to an “outperform” rating in a research report on Thursday, July 7th. Piper Jaffray Cos. reiterated an “underweight” rating and set a $13.50 target price on shares of Umpqua Holdings Corp. in a research report on Friday, June 17th. Finally, Zacks Investment Research downgraded Umpqua Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Umpqua Holdings Corp. currently has an average rating of “Hold” and a consensus target price of $17.72.
Umpqua Holdings Corporation is a financial 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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