Royce & Associates LP trimmed its position in Umpqua Holdings Corporation (NASDAQ:UMPQ) by 8.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 599,035 shares of the bank’s stock after selling 57,000 shares during the period. Royce & Associates LP owned approximately 0.27% of Umpqua worth $11,687,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NGAM Advisors L.P. lifted its position in shares of Umpqua by 11.1% during the 2nd quarter. NGAM Advisors L.P. now owns 23,634 shares of the bank’s stock valued at $434,000 after acquiring an additional 2,354 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Umpqua by 2.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 132,225 shares of the bank’s stock valued at $2,425,000 after acquiring an additional 2,919 shares during the last quarter. World Asset Management Inc lifted its position in shares of Umpqua by 2.1% during the 2nd quarter. World Asset Management Inc now owns 13,948 shares of the bank’s stock valued at $256,000 after acquiring an additional 290 shares during the last quarter. Sei Investments Co. lifted its position in shares of Umpqua by 31.4% during the 2nd quarter. Sei Investments Co. now owns 227,828 shares of the bank’s stock valued at $4,183,000 after acquiring an additional 54,388 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Umpqua by 96.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 54,800 shares of the bank’s stock valued at $1,006,000 after acquiring an additional 26,900 shares during the last quarter. Hedge funds and other institutional investors own 88.26% of the company’s stock.
In other news, insider Raymond P. Davis sold 36,829 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $20.60, for a total value of $758,677.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by corporate insiders.
Umpqua (NASDAQ:UMPQ) last released its earnings results on Wednesday, October 18th. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The business had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $297.51 million. Umpqua had a net margin of 19.04% and a return on equity of 5.79%. During the same quarter in the previous year, the company earned $0.28 EPS. sell-side analysts expect that Umpqua Holdings Corporation will post 1.04 EPS for the current fiscal year.
A number of equities research analysts have recently commented on UMPQ shares. Wells Fargo & Company increased their price objective on Umpqua from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $20.00 price objective on shares of Umpqua in a research report on Monday, October 16th. SunTrust Banks reiterated a “buy” rating and set a $23.00 price objective on shares of Umpqua in a research report on Monday, November 6th. Piper Jaffray Companies reiterated a “sell” rating and set a $16.50 price objective on shares of Umpqua in a research report on Wednesday, October 4th. Finally, Barclays increased their price objective on Umpqua from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $20.17.
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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.
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