Naples Global Advisors LLC Sells 650 Shares of Umpqua Holdings Co. (NASDAQ:UMPQ)

Posted by on Mar 31st, 2023

Naples Global Advisors LLC lessened its holdings in shares of Umpqua Holdings Co. (NASDAQ:UMPQ – Get Rating) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,500 shares of the bank’s stock after selling 650 shares during the quarter. Naples Global Advisors LLC’s holdings in Umpqua were worth $259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Umpqua by 12.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,123,758 shares of the bank’s stock valued at $203,315,000 after acquiring an additional 1,340,649 shares during the period. Renaissance Technologies LLC bought a new position in shares of Umpqua in the first quarter valued at approximately $17,068,000. Goldman Sachs Group Inc. boosted its position in shares of Umpqua by 48.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,611,559 shares of the bank’s stock valued at $49,254,000 after acquiring an additional 847,312 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Umpqua in the third quarter valued at approximately $8,396,000. Finally, Prelude Capital Management LLC boosted its position in shares of Umpqua by 274.9% in the second quarter. Prelude Capital Management LLC now owns 503,629 shares of the bank’s stock valued at $8,446,000 after acquiring an additional 369,302 shares during the period. Institutional investors own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

UMPQ has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Umpqua in a research report on Sunday, March 26th. They issued a “sell” rating for the company. Wells Fargo & Company upgraded shares of Umpqua from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $20.00 to $22.00 in a research report on Thursday, December 15th.

Umpqua Trading Down 1.7 %

Shares of UMPQ opened at $17.66 on Friday. The firm’s 50 day simple moving average is $18.06 and its 200 day simple moving average is $18.29. The company has a market capitalization of $3.83 billion, a P/E ratio of 11.39 and a beta of 0.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.99 and a quick ratio of 0.99. Umpqua Holdings Co. has a 1-year low of $15.77 and a 1-year high of $21.50.

Umpqua (NASDAQ:UMPQ – Get Rating) last announced its earnings results on Monday, January 23rd. The bank reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The company had revenue of $387.13 million during the quarter, compared to analysts’ expectations of $350.20 million. Umpqua had a net margin of 24.99% and a return on equity of 14.96%. During the same period in the prior year, the business earned $0.41 earnings per share. Sell-side analysts forecast that Umpqua Holdings Co. will post 2.33 earnings per share for the current fiscal year.

Umpqua Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 6th. Shareholders of record on Monday, January 23rd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, January 20th. Umpqua’s dividend payout ratio (DPR) is presently 54.19%.

Umpqua Profile

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Umpqua Holdings Corp. operates as a bank holding company, which provides banking and financial services. The firm operates through the following segments: Wholesale Bank, Wealth Management, Retail Bank and Home Lending. The Wholesale Bank segment includes lending, treasury and cash management services and customer risk management products to middle market corporate, commercial and business banking customers and the operations of FinPac.

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Institutional Ownership by Quarter for Umpqua (NASDAQ:UMPQ)

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