Public Employees Retirement Association of Colorado trimmed its stake in shares of Umpqua Holdings Co. (NASDAQ:UMPQ) by 8.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,249 shares of the bank’s stock after selling 3,437 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Umpqua were worth $819,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its holdings in Umpqua by 654.2% during the 4th quarter. Advisory Services Network LLC now owns 8,643 shares of the bank’s stock worth $180,000 after acquiring an additional 7,497 shares during the last quarter. Calton & Associates Inc. bought a new stake in Umpqua during the 4th quarter worth approximately $195,000. First Republic Investment Management Inc. bought a new stake in Umpqua during the 4th quarter worth approximately $210,000. Fox Run Management L.L.C. bought a new stake in Umpqua during the 4th quarter worth approximately $256,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Umpqua by 43.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,468 shares of the bank’s stock worth $259,000 after acquiring an additional 3,792 shares during the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.
NASDAQ:UMPQ opened at $23.86 on Friday. 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 Holdings Co. has a 52 week low of $23.70 and a 52 week high of $23.94. The firm has a market capitalization of $5.25 billion, a PE ratio of 22.30, a PEG ratio of 1.85 and a beta of 1.04.
A number of research firms have weighed in on UMPQ. BidaskClub raised shares of Umpqua from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Barclays boosted their target price on shares of Umpqua from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, April 23rd. ValuEngine raised shares of Umpqua from a “buy” rating to a “strong-buy” rating in a report on Friday, April 6th. JPMorgan Chase reduced their target price on shares of Umpqua from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Finally, Zacks Investment Research lowered shares of Umpqua from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.88.
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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