BlueMountain Capital Management LLC grew its holdings in shares of Umpqua Holdings Corp (NASDAQ:UMPQ) by 9,067.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,511 shares of the bank’s stock after buying an additional 49,960 shares during the period. BlueMountain Capital Management LLC’s holdings in Umpqua were worth $1,141,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cooke & Bieler LP increased its stake in shares of Umpqua by 4.4% during the first quarter. Cooke & Bieler LP now owns 1,373,180 shares of the bank’s stock valued at $29,400,000 after buying an additional 57,630 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Umpqua during the second quarter valued at approximately $10,212,000. Royal Bank of Canada increased its stake in shares of Umpqua by 0.9% during the first quarter. Royal Bank of Canada now owns 524,574 shares of the bank’s stock valued at $11,231,000 after buying an additional 4,929 shares during the period. ARP Americas LP purchased a new position in shares of Umpqua during the second quarter valued at approximately $203,000. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Umpqua during the second quarter valued at approximately $222,000. 88.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of UMPQ stock opened at $21.49 on Friday. The firm has a market capitalization of $4.80 billion, a P/E ratio of 19.87, a PEG ratio of 1.72 and a beta of 0.95. Umpqua Holdings Corp has a twelve month low of $18.05 and a twelve month high of $24.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 0.99.
Umpqua (NASDAQ:UMPQ) last issued its quarterly earnings results on Wednesday, July 18th. The bank reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). Umpqua had a return on equity of 7.11% and a net margin of 22.53%. The firm had revenue of $298.95 million during the quarter, compared to analysts’ expectations of $304.67 million. During the same period in the previous year, the company earned $0.26 earnings per share. equities analysts anticipate that Umpqua Holdings Corp will post 1.41 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on UMPQ shares. Zacks Investment Research raised Umpqua from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, June 20th. Sandler O’Neill reaffirmed a “buy” rating and issued a $25.00 price target on shares of Umpqua in a research note on Friday, July 20th. BidaskClub raised Umpqua from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. ValuEngine raised Umpqua from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Finally, Barclays reduced their price target on Umpqua from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $24.25.
Umpqua Company Profile
Umpqua Holdings Corporation, through its subsidiaries, provides commercial and retail banking, and retail brokerage services. It operates through four segments: Commercial 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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