Should You Buy Umpqua Holdings Corp (UMPQ)?

As one would reasonably expect, specific money managers have been driving this bullishness. Blue Arrow Capital Management, managed by Millennium Management Subsidiary, assembled the most valuable position in Umpqua Holdings Corp (NASDAQ:UMPQ). Blue Arrow Capital Management had $2.6 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $1.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Ray Carroll’s Breton Hill Capital, Matthew Tewksbury’s Stevens Capital Management, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s go over hedge fund activity in other stocks similar to Umpqua Holdings Corp (NASDAQ:UMPQ). We will take a look at National Instruments Corp (NASDAQ:NATI), CVR Energy, Inc. (NYSE:CVI), Paramount Group Inc (NYSE:PGRE), and Morningstar, Inc. (NASDAQ:MORN). This group of stocks’ market valuations resemble UMPQ’s market valuation.

As you can see these stocks had an average of 16.75 hedge funds with bullish positions and the average amount invested in these stocks was $967 million. That figure was $286 million in UMPQ’s case. National Instruments Corp (NASDAQ:NATI) is the most popular stock in this table. On the other hand Morningstar, Inc. (NASDAQ:MORN) is the least popular one with only 14 bullish hedge fund positions. Along with NATI and CVI, Umpqua Holdings Corp (NASDAQ:UMPQ) is among the most popular stocks in this group, and that makes the stock worth a closer look.