Chartwell Investment Partners LLC trimmed its stake in Umpqua Holdings Co. (NASDAQ:UMPQ) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 767,149 shares of the bank’s stock after selling 9,752 shares during the period. Chartwell Investment Partners LLC owned approximately 0.35% of Umpqua worth $11,615,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Crossmark Global Holdings Inc. grew its position in Umpqua by 2.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 25,810 shares of the bank’s stock valued at $391,000 after acquiring an additional 620 shares during the last quarter. Essex Financial Services Inc. lifted its position in Umpqua by 7.1% during the fourth quarter. Essex Financial Services Inc. now owns 11,413 shares of the bank’s stock valued at $173,000 after buying an additional 758 shares during the period. CI Investments Inc. lifted its position in Umpqua by 27.5% during the fourth quarter. CI Investments Inc. now owns 4,549 shares of the bank’s stock valued at $69,000 after buying an additional 980 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Umpqua by 0.4% during the fourth quarter. New York State Common Retirement Fund now owns 339,526 shares of the bank’s stock valued at $5,140,000 after acquiring an additional 1,339 shares in the last quarter. Finally, Core Wealth Advisors Inc. bought a new position in shares of Umpqua during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 85.28% of the company’s stock.
In other news, CFO Ron L. Farnsworth sold 13,100 shares of Umpqua stock in a transaction dated Monday, February 1st. The stock was sold at an average price of $14.69, for a total transaction of $192,439.00. Following the transaction, the chief financial officer now directly owns 211,637 shares of the company’s stock, valued at approximately $3,108,947.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Cort L. O’haver sold 5,750 shares of Umpqua stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $14.69, for a total value of $84,467.50. Following the transaction, the chief executive officer now directly owns 492,394 shares in the company, valued at $7,233,267.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,407 shares of company stock worth $300,947. Insiders own 0.47% of the company’s stock.
Umpqua (NASDAQ:UMPQ) last released its quarterly earnings results on Tuesday, January 19th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.20. The business had revenue of $358.87 million during the quarter, compared to the consensus estimate of $334.73 million. Umpqua had a return on equity of 7.80% and a net margin of 16.53%. During the same period in the previous year, the company posted $0.38 EPS. Research analysts anticipate that Umpqua Holdings Co. will post 1.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 26th. Stockholders of record on Tuesday, February 16th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, February 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.85%. Umpqua’s payout ratio is currently 52.50%.
Several equities analysts have recently weighed in on the company. Piper Sandler raised their price target on Umpqua from $13.50 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, December 9th. Zacks Investment Research upgraded Umpqua from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, January 26th. Stephens began coverage on Umpqua in a report on Tuesday, October 27th. They issued an “overweight” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. downgraded Umpqua from a “neutral” rating to an “underweight” rating and set a $11.50 price objective for the company. in a report on Tuesday, October 27th. Finally, TheStreet upgraded Umpqua from a “d+” rating to a “c-” rating in a report on Thursday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $14.19.
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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