Principal Financial Group Inc. Reduces Position in Umpqua Holdings Co. (NASDAQ:UMPQ)

Principal Financial Group Inc. lessened its holdings in shares of Umpqua Holdings Co. (NASDAQ:UMPQGet Rating) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,551,999 shares of the bank’s stock after selling 17,775 shares during the period. Principal Financial Group Inc. owned about 0.72% of Umpqua worth $29,861,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in UMPQ. FMR LLC boosted its position in shares of Umpqua by 1,322.7% during the first quarter. FMR LLC now owns 1,618,499 shares of the bank’s stock valued at $26,705,000 after buying an additional 1,504,734 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Umpqua by 189.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 84,081 shares of the bank’s stock valued at $1,387,000 after purchasing an additional 54,988 shares during the period. Raymond James & Associates boosted its holdings in shares of Umpqua by 3.5% in the third quarter. Raymond James & Associates now owns 16,931 shares of the bank’s stock valued at $343,000 after purchasing an additional 572 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Umpqua by 2.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,563 shares of the bank’s stock valued at $518,000 after purchasing an additional 688 shares during the period. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of Umpqua by 12.9% in the third quarter. Advisor Group Holdings Inc. now owns 59,763 shares of the bank’s stock valued at $1,208,000 after purchasing an additional 6,821 shares during the period. Institutional investors and hedge funds own 87.58% of the company’s stock.

A number of brokerages recently issued reports on UMPQ. StockNews.com began coverage on Umpqua in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research lowered Umpqua from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 31st. Finally, Keefe, Bruyette & Woods assumed coverage on Umpqua in a report on Friday, February 11th. They issued a “market perform” rating for the company. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Umpqua currently has an average rating of “Hold” and an average target price of $20.90.

Shares of NASDAQ:UMPQ opened at $16.70 on Friday. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 9.03 and a beta of 1.02. Umpqua Holdings Co. has a 52 week low of $16.40 and a 52 week high of $22.06. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $18.55 and a 200 day moving average of $19.72.

Umpqua (NASDAQ:UMPQGet Rating) last issued its quarterly earnings data on Wednesday, April 20th. The bank reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $308.73 million during the quarter, compared to the consensus estimate of $296.38 million. Umpqua had a net margin of 31.34% and a return on equity of 14.89%. Umpqua’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, sell-side analysts expect that Umpqua Holdings Co. will post 1.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Monday, May 16th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Friday, May 13th. Umpqua’s payout ratio is presently 45.41%.

In other news, insider Torran B. Nixon sold 5,000 shares of the company’s stock in a transaction on Wednesday, April 27th. The stock was sold at an average price of $17.67, for a total transaction of $88,350.00. Following the transaction, the insider now directly owns 216,033 shares of the company’s stock, valued at $3,817,303.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ron L. Farnsworth sold 7,000 shares of the company’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $20.49, for a total value of $143,430.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,000 shares of company stock worth $332,830. Insiders own 0.58% of the company’s stock.

About Umpqua (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.

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Institutional Ownership by Quarter for Umpqua (NASDAQ:UMPQ)

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