Umpqua Holdings Corporation (UMPQ) Sees Large Decline in Short Interest

Umpqua Holdings Corporation (NASDAQ:UMPQ) was the target of a significant decline in short interest in January. As of January 12th, there was short interest totalling 5,587,129 shares, a decline of 14.3% from the December 29th total of 6,521,538 shares. Based on an average trading volume of 1,615,693 shares, the short-interest ratio is presently 3.5 days. Currently, 2.6% of the company’s stock are short sold.

Umpqua (UMPQ) opened at $21.58 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.96 and a current ratio of 0.98. The company has a market cap of $4,730.00, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.82 and a beta of 1.14. Umpqua has a 12 month low of $16.65 and a 12 month high of $22.89.

Umpqua (NASDAQ:UMPQ) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.09. The firm had revenue of $292.60 million during the quarter, compared to the consensus estimate of $293.80 million. Umpqua had a net margin of 20.30% and a return on equity of 5.92%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. analysts expect that Umpqua will post 1.4 EPS for the current year.

The company also recently announced a dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, December 28th. Umpqua’s payout ratio is currently 64.29%.

Several research firms have commented on UMPQ. BidaskClub downgraded shares of Umpqua from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Umpqua from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday. Zacks Investment Research upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Barclays boosted their price target on shares of Umpqua from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Finally, SunTrust Banks restated a “buy” rating and issued a $24.00 price target on shares of Umpqua in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.55.

Several hedge funds have recently modified their holdings of UMPQ. HighTower Advisors LLC acquired a new position in Umpqua in the second quarter valued at $203,000. California Public Employees Retirement System boosted its stake in Umpqua by 7.3% in the third quarter. California Public Employees Retirement System now owns 627,728 shares of the bank’s stock valued at $12,247,000 after acquiring an additional 42,945 shares in the last quarter. FMR LLC boosted its stake in Umpqua by 23.8% in the second quarter. FMR LLC now owns 684,900 shares of the bank’s stock valued at $12,575,000 after acquiring an additional 131,600 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Umpqua by 5.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,657,540 shares of the bank’s stock valued at $32,339,000 after acquiring an additional 91,242 shares in the last quarter. Finally, Capital World Investors boosted its stake in Umpqua by 6.6% in the second quarter. Capital World Investors now owns 15,273,300 shares of the bank’s stock valued at $280,418,000 after acquiring an additional 944,594 shares in the last quarter. Hedge funds and other institutional investors own 88.18% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This story was published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/01/28/umpqua-holdings-corporation-umpq-sees-large-decline-in-short-interest.html.

About Umpqua

Umpqua Holdings Corporation is a bank 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.

Receive News & Ratings for Umpqua Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Umpqua and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply