Insider Selling: Umpqua Holdings Corp. major shareholder Sells 7,500,000 Shares of Stock (UMPQ)
Umpqua Holdings Corp. (NASDAQ:UMPQ) major shareholder Pincus Private Equity Warburg unloaded 7,500,000 shares of the stock on the open market in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $16.16, for a total value of $121,200,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Separately, analysts at Barclays upgraded shares of Umpqua Holdings Corp. from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 9th. They now have a $19.00 price target on the stock, up previously from $17.00. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $19.20.
Shares of Umpqua Holdings Corp. (NASDAQ:UMPQ) traded up 1.68% during mid-day trading on Wednesday, hitting $16.96. 1,730,526 shares of the company’s stock traded hands. Umpqua Holdings Corp. has a 1-year low of $15.56 and a 1-year high of $19.65. The stock’s 50-day moving average is $17.19 and its 200-day moving average is $17.48. The company has a market cap of $3.684 billion and a P/E ratio of 26.56.
Umpqua Holdings Corp. (NASDAQ:UMPQ) last announced its earnings results on Wednesday, July 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. During the same quarter in the previous year, the company posted $0.24 earnings per share. Analysts expect that Umpqua Holdings Corp. will post $1.08 EPS for the current fiscal year.
Umpqua Holdings Corporation (NASDAQ:UMPQ) is a financial holding company.
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