Short Interest in Umpqua Holdings Corp (NASDAQ:UMPQ) Grows By 18.4%

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Umpqua Holdings Corp (NASDAQ:UMPQ) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,340,000 shares, a growth of 18.4% from the September 30th total of 2,820,000 shares. Based on an average daily volume of 1,148,500 shares, the short-interest ratio is presently 2.9 days. Approximately 1.5% of the company’s shares are short sold.

Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a report on Saturday, October 26th. SunTrust Banks cut their price target on shares of Umpqua from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. BidaskClub upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wedbush cut their price target on shares of Umpqua from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Finally, ValuEngine upgraded shares of Umpqua from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.67.

In related news, Director Susan F. Stevens sold 12,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $16.69, for a total transaction of $200,280.00. Following the transaction, the director now directly owns 35,012 shares in the company, valued at approximately $584,350.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Torran B. Nixon sold 5,303 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $15.31, for a total transaction of $81,188.93. Following the transaction, the executive vice president now owns 103,344 shares in the company, valued at $1,582,196.64. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan grew its stake in Umpqua by 1.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 40,740 shares of the bank’s stock worth $676,000 after acquiring an additional 590 shares in the last quarter. Zebra Capital Management LLC lifted its position in shares of Umpqua by 4.1% in the 2nd quarter. Zebra Capital Management LLC now owns 17,068 shares of the bank’s stock worth $283,000 after purchasing an additional 677 shares during the period. Brinker Capital Inc. lifted its position in shares of Umpqua by 5.6% in the 3rd quarter. Brinker Capital Inc. now owns 14,981 shares of the bank’s stock worth $247,000 after purchasing an additional 798 shares during the period. Parallel Advisors LLC lifted its position in shares of Umpqua by 37.0% in the 3rd quarter. Parallel Advisors LLC now owns 3,297 shares of the bank’s stock worth $54,000 after purchasing an additional 891 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Umpqua by 1.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 54,061 shares of the bank’s stock worth $896,000 after purchasing an additional 948 shares during the period. Institutional investors and hedge funds own 86.37% of the company’s stock.

Shares of UMPQ stock opened at $16.41 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.01 and a quick ratio of 1.00. The company has a market capitalization of $3.69 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.32 and a beta of 1.06. The company’s 50-day simple moving average is $16.16 and its two-hundred day simple moving average is $16.46. Umpqua has a one year low of $15.06 and a one year high of $19.88.

Umpqua (NASDAQ:UMPQ) last issued its earnings results on Wednesday, October 16th. The bank reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. The business had revenue of $317.49 million for the quarter, compared to the consensus estimate of $302.20 million. Umpqua had a net margin of 24.20% and a return on equity of 8.41%. During the same period in the prior year, the firm earned $0.41 EPS. On average, research analysts expect that Umpqua will post 1.59 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 5.12%. Umpqua’s dividend payout ratio is currently 57.53%.

About Umpqua

Umpqua Holdings Corporation operates as the holding company of Umpqua Bank that provides commercial and retail banking, and retail brokerage services. It operates through four segments: Wholesale 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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