State of New Jersey Common Pension Fund D Trims Stake in Umpqua Holdings Co. (NASDAQ:UMPQ)

State of New Jersey Common Pension Fund D reduced its position in shares of Umpqua Holdings Co. (NASDAQ:UMPQ – Get Rating) by 14.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,263 shares of the bank’s stock after selling 19,847 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Umpqua worth $2,249,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp purchased a new position in Umpqua in the fourth quarter worth $111,000. Janney Montgomery Scott LLC grew its position in Umpqua by 2.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 141,489 shares of the bank’s stock worth $2,722,000 after acquiring an additional 2,938 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Umpqua in the fourth quarter worth $9,291,000. Yousif Capital Management LLC purchased a new position in Umpqua in the fourth quarter worth $2,233,000. Finally, CWM LLC purchased a new position in Umpqua in the fourth quarter worth $162,000. 87.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on UMPQ shares. Wedbush upped their target price on shares of Umpqua to $19.00 in a research report on Friday, July 22nd. Truist Financial upped their target price on shares of Umpqua to $19.00 in a research report on Monday, July 25th. Finally, TheStreet downgraded shares of Umpqua from a “b-” rating to a “c+” rating in a research note on Friday, June 17th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.25.

Umpqua Stock Performance

Umpqua stock opened at $17.53 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.80 billion, a PE ratio of 10.43 and a beta of 0.98. The firm has a fifty day simple moving average of $17.17 and a two-hundred day simple moving average of $18.54. Umpqua Holdings Co. has a twelve month low of $15.77 and a twelve month high of $22.06.

Umpqua (NASDAQ:UMPQ – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $303.41 million for the quarter, compared to the consensus estimate of $298.36 million. Umpqua had a net margin of 28.88% and a return on equity of 13.88%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share. Research analysts expect that Umpqua Holdings Co. will post 1.75 EPS for the current year.

Umpqua Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.79%. This is an increase from Umpqua’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, July 29th. Umpqua’s dividend payout ratio is 50.00%.

Insider Activity

In other news, insider Torran B. Nixon sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $17.58, for a total transaction of $87,900.00. Following the completion of the transaction, the insider now directly owns 211,033 shares of the company’s stock, valued at $3,709,960.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Umpqua Profile

(Get Rating)

Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking services. It operates in two segments: Core Banking and Mortgage Banking. 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.